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    Home»Featured»TikTok will challenge Trump order banning U.S. transactions
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    TikTok will challenge Trump order banning U.S. transactions

    Finance KhabarBy Finance KhabarAugust 23, 2020No Comments2 Mins Read
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    TikTok plans to sue the Trump administration as early as next week over the president’s executive order banning U.S. transactions with the popular video-sharing app and its Chinese parent ByteDance, the company confirmed.

    Under the president’s executive order issued Aug. 6, any transactions with ByteDance subject to U.S. jurisdiction will face prohibition in 45 days. The full extent of the ban is unclear, as it gives the Secretary of Commerce the power to identify those transactions subject to Trump’s order.

    A separate order issued on Aug. 14 gave ByteDance 90 days to divest the U.S. operations of TikTok. ByteDance is in talks with potential acquirers like Microsoft and Oracle. The challenge to the Aug. 6 executive order doesn’t affect the sale discussions with Microsoft and Oracle.

    “Even though we strongly disagree with the Administration’s concerns, for nearly a year we have sought to engage in good faith to provide a constructive solution,” a TikTok spokesperson told on Saturday. “What we encountered instead was a lack of due process as the Administration paid no attention to facts and tried to insert itself into negotiations between private businesses.”

    “To ensure that the rule of law prevails and that our company and users are treated fairly, we have no choice but to challenge the Executive Order through the judicial system,” the spokesperson said.

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