China would prefer to close the American TikTok business, rather than sell it to the US

China would prefer to close the American TikTok business, rather than sell it to the US


Official Beijing has opposed the sale of US assets of the TikTok short video service, owned by the Chinese company ByteDance. The government would rather shut down the service in the United States than give it into the hands of the Americans, the news agency reported. CNBC with reference to their sources.

Last month, US President Donald Trump issued a decree according to which TikTok should be banned in the country if none of the American companies can acquire it by mid-September this year. Since that time, ByteDance has begun active negotiations with potential buyers, including companies such as Microsoft and Oracle.

But as points out CNBCThe Chinese government believes that the forced sale of TikTok will show the weakness of ByteDance in particular and China in general in the face of pressure from Washington. In a statement to Reuters, the Chinese company told Reuters that it itself never offered to sell TikTok’s assets in the United States or any other country. Moreover, according to two sources CNBCThe Chinese government is ready to retaliate against the United States if necessary, to postpone any deals involving ByteDance and the American side.

In late August, China announced that it was strongly opposed to Trump’s orders. As one of the countermeasures, the government decided to prepare a list of technologies, services and services that may fall under the export ban. According to some sources, the recommendation algorithm used in the TikTok app made it to this list.

Chinese Foreign Ministry spokesman Zhao Lijian, speaking to the press on Friday, noted that the US is blatantly exploiting the concept of national security and urged them to stop harassing foreign companies.

If you notice an error, select it with the mouse and press CTRL + ENTER.

Leave a Comment