US Secretary of Commerce Wilbur Ross confirmed the postponement of the ban in a"In light of recent positive developments, Secretary of Commerce Wilbur Ross, at the direction of President Trump, will delay the prohibition of identified transactions pursuant to Executive Order 13942, related to the TikTok mobile application that would have been effective on Sunday, September 20, 2020, until September 27, 2020 at 11:59 p.m.
"Both companies will take part in a TikTok Global pre-IPO financing round in which they can take up to a 20% cumulative stake in the company," TikTok said. It has also promised to set up a US-based headquarters and create 25,000 jobs. The deal is not yet closed, and still needs to win approval from the Chinese government. On Saturday, China's Ministry of Commerce put out a statement accusing the US of bullying. "If the US insists on going its own way, China will take necessary measures to resolutely safeguard the legitimate rights and interests of Chinese companies," the ministry said in a statement perSign up for a daily selection of our best stories daily based on your reading preferences.
Now Trump has his hands and plans on TikTok, it’s his China Doll - I’m out.
First off, this deal saves Trump's face as Oracle doesn't get much, without the algorithms. Secondly, is there some strategy or policy behind the ban ? Or is it just at the whim of Trump ?
Donny the biggest threat to national security. Now the question is what was in the deal for him ?
How could he conceptually approved the deal while he conceptually didn’t like this deal a couple of days ago?
Azé Kokovivina du Togo
Azé Kokovivina du Togo
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Source: BusinessInsider - 🏆 729. / 51 Read more »
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