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Trump backs off banning TikTok in U.S., giving go-ahead for Microsoft to pursue acquisition Updated: 2020-08-04 10:03:40 KST

President Trump is suggesting that he does not mind if Microsoft buys the Chinese-owned application, TikTok, retreating from comments about banning the service entirely across the U.S.
Speaking at the White House on Monday, Trump said the deal must be made before mid-September.

"I think buying 30 percent is complicated. And I suggested that he can go ahead. He can try. We set a date. I set a date of around September 15th. At which point it's going to be out of business in the United States. But if somebody and whether it's Microsoft or somebody else buys it, that'll be interesting."

The remark comes after he has reportedly discussed the matter with the CEO of Microsoft over the weekend.
President Trump also explained that once the deal is made, the U.S. Treasury Department should receive payment for clearing the purchase.
This follows President Trump's earlier threats to shut down TikTok in the U.S. due to concerns over national security.
Trump administration officials and lawmakers of both parties have argued that the app could be potentially giving the Chinese government access to vast quantities of American user data.
Against such a backdrop, Chinese tech company ByteDance, the parent company of TikTok said Monday that it's considering moving the headquarters of its video sharing platform overseas, following a British media report that the unit could relocate to London.
The founder of the tech company reportedly wrote to his employees on the same day that the company is currently exerting full efforts to bring about the best results, adding that ByteDance is currently facing great external pressure in certain markets.
Kim Hyo-sun, Arirang News.

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