US President Donald Trump signed a decree prohibiting the purchase of the music service musical.ly by ByteDance (owner of TikTok) and also demanded that within 90 days it abandon the US assets associated with the work of TikTok and transfer the personal data of users collected in the United States.
“There is reliable data, on the basis of which I believe that ByteDance Ltd. through the acquisition of musical.ly can take actions that threaten US national security”, the decree says.
As part of the deal, ByteDance merged its TikTok app with musical.ly to create a unified platform, the document said.
In the decree, Trump demanded a ban on the purchase of musical.ly in the American jurisdiction and gave 90 days from the date of the publication of the decree (with the possibility of extension for another 30 days) for the Committee on Foreign Investment (CFIUS) to demand that ByteDance and its subsidiaries abandon remove all assets and dispose of personal user data collected by TikTok or musical.ly in the United States.
According to the results, ByteDance must report in writing to the Committee on Foreign Investment, according to the Trump decree.