President Donald J. Trump announced on Monday that the U.S. government should be paid or given a percentage in buying the Chinese streaming app, TikTok, as it is allowed back in the country under the agreement that an American company would purchase it.
According to CNN, the U.S. President demands either the American Company, Microsoft, or a Chinese company to give a "substantial amount of money" to the U.S. Treasury in the TikTok deal. Trump said this a few days after allowing ByteDance's TikTok app to remain operational in U.S. territory from its supposed ban last August 1.
Chinese app, TikTok, is given an extension until September 15, less than 45 days from now, to secure a deal with any American company to have the 'right' to operate on American soil. Trump added that for the have to have rights, "it has to come into this country.
Allowing the use of the short-video streaming app, TikTok, would be permitted by the government, as long as it is paid the right amount for making it possible. President Trump will allow the deal once the company is owned by an American company or utterly independent from Beijing.
TikTok's Chinese mother company, ByteDance, previously pleaded to the United States government in reaching a deal, providing it a small minority stake in the application's business in the country. The government rejected this deal.
ALSO READ: Trump 'May Allow' Microsoft to Buy TikTok on the Following Conditions
Microsoft blogs TikTok deal.
Bloomberg reported that Microsoft is updating their blog posts, and there, the American Tech giant expresses its intent to buy the Chinese application and provides updates to the on-going deal.
Microsoft expresses their intent through their blogposts in buying the short-video streaming app and sealing the deal. Their purchase of one of the most popular streaming apps will take control of TikTok's operation in the United States and its activity in the northern region of Canada, Australia, and New Zealand.
Presently both Microsoft and the Chinese company, ByteDance, are in talks about the pricing and deal of the app sell-out.
It is also worth noting that Microsoft clarified that the fee going to the United States Department of Treasury would be for the country's economic benefits.
Future of TikTok
TikTok is a streaming app that dominates the market today. It comes as a short-video streaming app that doubles as a social media application where users get to interact, comment and repost videos.
In its recent controversies, it is alleged by many hackers to be a 'malware' that spies on users and collect private and sensitive data. This is another reason why the U.S. is very cautious about the application. Trump strongly advocates for U.S. data to remain in the country.
ALSO READ: Anonymous Hackers Call TikTok App as 'Chinese Malware' So You Better Delete it Now
Daily Mail said that in a video by Vanessa Pappas, United States' General Manager, she gave importance to how TikTok employs 15,000 Americans and plans to add 10,000 more.
This article is owned by Tech Times
Written by Isaiah Alonzo
