President Donald Trump issued an executive order which will ban any US companies or citizens from making transactions with ByteDance, the parent company of the video-sharing social networking service TikTok, in 45 days.
Trump also issued an order taking similar action against Tencent, the Chinese company that owns WeChat. The move comes after the president told reporters on Monday that TikTok would close down unless sold to a US company.
BREAKING: President Trump just issued an executive order “on Addressing the Threat Posed by TikTok.” It takes effect in 45 days, prohibits “any transaction” with ByteDance, the Chinese company that owns TikTok, and will almost certainly face legal challenges. pic.twitter.com/Ma9XOfYgOB— Hunter Walker (@hunterw) August 7, 2020