The TikTok acquisition saga continues.
The White House did not give the parent company of the short video sharing app, TikTok, another extension for a chance to sell the app to an American company. However, despite the lack of an extension, a source close to the matter told the New York Times the deal will continue.
ByteDance, a Chinese company, owns TikTok.
Why the Ban?
Early this year, US Secretary of State, Mike Pompeo, announced, Tiktok and WeChat’s parent companies in China bring threats to the personal data of American citizens.
Another Chinese company, Tencent, owns WeChat.
In August, US President Donald Trump signed an Executive Order banning the video sharing app from US app stores.
The EO came after Pompeo announced TikTok, and WeChat, as threats to US national security.
The Trump Administration’s Fight Against Chinese Companies
The Trump administration has long established that China is a threat to US national security. Also, China has cost the US economy billions of dollars in revenue, and thousands of jobs.
In fact, before TikTok, the Trump administration has already banned the sale of Huawei equipment due to security threats. Other countries like the UK and Sweden followed suit.
Opinion: The Threat Against TikTok Will Continue even after a US Administration Change
It has already been months since Trump signed the EO banning TikTok. After many deadline extensions, Trump, in September, announced he approves Oracle’s buyout of TikTok in concept.
However, China has also released a statement saying it will not sell TikTok to any American business.
In less than two months, former Vice President Joe Biden will take over the presidential seat.
According to Dan Ives, tech analyst from Wedbush Securities in New York, ByteDance looks like it’s delaying the acquisition until Biden takes his office.
However, I don’t think ByteDance should assume it will be safer during Biden’s administration. It will still depend on what is good for the American people. And if during Biden’s administration, the threat is still there, there’s still a big chance for TikTok’s ban in the US.