After granting multiple extensions of the deadline set for TikTok to sell its US assets, the Donald Trump administration is not making another extension of the December 4 deadline for the Chinese parent of the short video-sharing platform, CNN reported on Saturday.
This, however, does not mean that TikTok which has over 100 million users in the US will stop functioning in the county as the Trump administration is not enforcing the executive order requiring the sale, said the report citing unnamed source familiar with the matter.
The talks between TikTok and US officials on reaching a deal will continue.
The Treasury Department said in a statement that CFIUS is “engaging with ByteDance to complete the divestment and other steps necessary to resolve the national security risks arising from the transaction, consistent with the President’s August 14 Order,” according to the CNN report.
The development comes after China’s ByteDance was granted seven-day extension of the deadline last week to sell TikTok’s American business.
The US Department of Treasury had said that the Committee on Foreign Investment in the United States (CFIUS) had allowed the one week extension, from November 27 to December 4, in order to review revised submission that the committee recently received.
Citing national security concerns, the Trump administration had earlier ordered ByteDance to sell TikTok’s US operations by November 12.
That deadline extended to November 27 when the company received a 15-day extension to reach a deal with American buyers.
The latest extension pushed the deadline to December 4.
TikTok had earlier disclosed that it reached a deal with Oracle and Walmart to address security concerns raised by the Trump administration which had alleged that Chinese government could have access to data of the platform’s American users.
Both TikTok and China rejected the allegations.