The U.S. is launching a series of sanctions against Chinese technology companies. Recently, President Trump announced an order demanding ByteDance divest all assets used to support the operation of TikTok in the U.S. and destroy all data obtained and derived from TikTok users in the U.S within 90 days.
On August 14, U.S. President Trump announced the latest executive order regarding TikTok. President Trump emphasized that credible evidence shows that the parent company of TikTok, ByteDance Ltd., threatens to impair the national security of the United States. The executive order states that any transaction resulting in the acquisition by ByteDance of Musical.ly and the ownership by ByteDance of any interest in Musical.ly in the U.S., whether affected directly or indirectly through ByteDance, is prohibited.