As the date for the US presidential election draws closer, President Donald Trump is taking aggressive decisions.
Trump on Thursday signed an order that will effectively ban any US company or individual from making transactions with ByteDance, TikTok’s parent company, after 45 days.
US President Donald Trump issues executive order to address the 'threat' posed by TikTok, saying that beginning in 45 days, any transaction subject to US jurisdiction with ByteDance is prohibited: Reuters
— ANI (@ANI) August 7, 2020
(file pic) pic.twitter.com/Uv5bmTfZLy
He said that mobile applications of Chinese companies are becoming a threat to American's national security, economy and foreign policy.
The US company Microsoft wants to buy TikTok but now it does not have much time left. If no deal is reached by September 15, then the difficulties of Chinese company ByteDance will increase. America is the biggest market in terms of ByteDance profits, although China is strongly opposed to the deal.
President Trump has signed an order banning another Chinese mobile application, WeChat. After this order, shares of WeChat's parent company Tencent plunged.
Trump said that this restriction is necessary because the collection of data from an untrusted app like TikTok is a threat to the national security of the country. Trump alleges that private information of American citizens is reaching the ruling Communist Party of China through mobile applications.
Earlier, US Secretary of State Mike Pompeo had warned of the ban on TikTok and WeChat. India had taken action on these mobile applications before the US, citing national security and sovereignty of the country. However, at the time of action, there was tension between India and China over the border dispute. 20 soldiers lost their lives in a clash with Chinese soldiers on the LAC in Ladakh. The action on mobile applications was seen as a retaliation for this.
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