Trump Says Yes To Microsoft TikTok Deal (T&C Apply)
TikTok is currently facing a difficult time on American soil, with its future in jeopardy. Earlier reports suggested that the US government could kick the video-sharing app out of the US, but things then turned the other way.
According to the latest development, Microsoft is in talks to buy TikTok – the company also acknowledged this on its official blog on Sunday. This follows a call between US President Donald Trump and Microsoft CEO Satya Nadella over the weekend.
On the other hand, President Trump has accepted the Microsoft-TikTok deal. But he was quick to come up with the condition that the US Treasury should get a cut in the deal if a US company buys TikTok and demands the same from Microsoft Chief.
Trump said that “the United States should get a very large percentage of this award because we make it possible.”
“It would come from selling, which no one else but me would think of, but that’s how I think, and I think that’s very fair.”
The dream of making money from the Microsoft-TikTok deal may not be child’s play for the US government as it is a private deal and legal hurdles could arise in course, according to a BBC report.
Meanwhile, the US president has also set a deadline for purchasing TikTok, which is September 15. After that, it will ban the Chinese app if no company ends up buying it.
The TikTok ban stems from allegations that TikTok is a provider of US citizen data to the Chinese government. However, TikTok and the Chinese government have denied the same.
As part of the deal, Microsoft is also considering inviting other US investors to offer them minority stakes.
Microsoft has said it will work with ByteDance to acquire TikTok’s operations in the United States, Canada, New Zealand and Australia. Without making much change to the TikTok experience, Microsoft said it would strengthen the privacy and security aspects and “ensure that all private data of US TikTok users is transferred and remains in the United States.”
“Since such data is currently stored or backed up outside the United States, Microsoft would ensure that such data is deleted from servers outside the country after it is transferred,” he added.