Security News > 2020 > November > US Extends TikTok Sale Deadline to December 4
The US Treasury on Wednesday said it had extended by seven days the November 27 deadline given to the Chinese owner of TikTok to sell the popular social media platform's American business.
Trump, who lost his bid for re-election this month, has claimed that TikTok - which has some 100 million US users - can be used to collect data on Americans for Chinese espionage, a claim denied by the company.
The White House has said TikTok must become a US firm controlled by American investors to avert a ban.
A deal appeared to take shape earlier this year which would allow Silicon Valley giant Oracle to be the data partner for a newly incorporated TikTok Global, with Walmart joining as a commercial partner.
The developments come amid heightened tensions between Washington and Beijing over trade and national security, with the US administration having also banned Chinese tech giant Huawei from obtaining US technology and from deals involving wireless networks.