Ammon News - The top Democrat on the Senate Intelligence Committee said on Monday that President Donald Trump's decision to extend a deadline for China-based ByteDance to divest short video app TikTok's U.S. assets violates the law.
Senator Mark Warner also said the reported likely deal under consideration would not meet legal requirements for eliminating ByteDance’s influence over TikTok’s U.S. operations under a 2024 law.
The reported deal "would preserve a material, operational role for ByteDance by not only allowing it to retain a significant equity stake in the divested entity, but also an active role in technology development and maintenance," he said.
Trump on Friday said he extended by 75 days a deadline for ByteDance to sell U.S. assets of the popular short video app to a non-Chinese buyer, or face a ban that was supposed to have taken effect in January under a 2024 law.
The White House and TikTok did not immediately comment Monday.
The deal would spin off TikTok's U.S. operations into a new company based in the U.S. and majority-owned and operated by U.S. investors. The plan entails spinning off a U.S. entity for TikTok and diluting Chinese ownership, sources have told Reuters.