President Donald Trump has claimed that TikTok “will stop doing business in the United States” on September 15 if its Chinese parent company ByteDance does not sell it and provides the US Treasury Department with “a lot of money.”
This claim comes after the statement he made last week in which he claimed that he planned to issue an executive order to “ban” the app over the weekend.
The 45-day deadline is in line with reports that Microsoft has negotiated a 45-day window to acquire the company.
Trump explained today that Microsoft or another “big,” “safe,” and “very American” company should buy TikTok. He argued that he should buy the entire ByteDance company – not just its operations in the US, Canada, Australia, and New Zealand – because “buying 30 percent is complicated.”
The president also stated that any agreement will have to send “a very substantial proportion ” of the price to the treasury of the Treasury Department.
He did not explain what this means but offered a comparison between the relationship of the US government with businesses and the relationship between a landlord and a tenant.
Right now they have no rights unless we give it to them, so if we are going to give them the rights then they have to enter this country. It is a bit like the relationship between the landlord and the tenant. Without a lease the tenant has nothing.
Trump claims that TikTok “will close on September 15 unless Microsoft or someone else can buy it and strike a proper deal for the Treasury, I suppose you could say, from the United States to receive a lot of money.”
Microsoft’s publication on the purchase of TikTok also referred to “providing adequate economic benefits to the United States, including the United States Treasury.”