ByteDance is increasingly likely to miss a Trump administration deadline for the sale of its TikTok US operations after new Chinese regulations complicated negotiations with bidders Microsoft and Oracle.
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China has announced an initiative to establish global standards on data security, saying it wants to promote multilateralism in the area at a time when “individual countries” are “bullying” others.
US President Donald Trump insists that any sale of TikTok include a cut for the federal government, yet that demand has baffled policy experts and lawyers.
China is planning a sweeping set of new government policies to develop its domestic semiconductor industry, conferring the same kind of priority on the effort it accorded to building its atomic capability.
India has banned another set of 118 apps from China’s technology giants, including Tencent’s wildly popular game PUBG Mobile Lite and online payments platform Alipay, as tensions escalated between the countries.
Imagine a bidder wanting to buy KFC, but being told the deal might not include the Colonel’s seven secret herbs and spices. That’s effectively what Beijing has told the list of US companies keen to purchase TikTok.
The usual agenda of trumpeting China’s chip innovation at a major industry confab was coloured by fears the industry might be next to suffer trade sanctions from the Trump administration.
China’s new rules around tech exports mean ByteDance’s sale of TikTok’s US operations could need Beijing’s approval, a Chinese trade expert told state media.
Despite its superficially frivolous nature, young people have been using TikTok to send political messages, coordinate political actions and hang out in an online space largely free of adults.
Walmart said it was joining Microsoft in a bid for social media company TikTok’s US assets, revealing its plans hours after CEO Kevin Mayer said he would step down.