Donald Trump says TikTok will be ‘out of business’ in US unless sold by September 15

Donald Trump says TikTok will be ‘out of business’ in US unless sold by September 15

  • In addition to Microsoft, at least two other interested buyers in the tech industry are in talks with ByteDance to acquire the video-sharing app, source says
  • Trump also says the US should get money from the sale, though he did not say how that would be accomplished

US President Donald Trump said on Monday that the US government should get “a very large percentage” of the sale of video-sharing app TikTok, which is owned by Chinese tech giant ByteDance, shortly after threatening to put the company “out of business” in the US if it is not sold by September 15.

The cut “would come from the sale whatever that number is”, Trump at a White House briefing, without explaining how such an unprecedented payment could happen. The government “should get a very large percentage of that price because we’re making it possible. I use the expression it’s like the landlord and the tenant. And without the lease the tenant doesn’t have the value and what we’re sort of, in a certain way, ‘the lease’, we make it possible to have this great success” of TikTok.

“I think it’s very fair,” he said.

“And we want no security problems with China. It’s got to be an American company, it’s got to be American securities, got to be owned here,” he added.

Earlier on Monday, Trump said that he was not opposed to Microsoft – or another US-based company – acquiring TikTok but that a sale had to take place by September 15.