Biden administration tells TikTok's Chinese owners to sell or face possible ban.
in the United States if its Chinese owners refuse to sell their stakes in the video sharing app, a source close to the company told NBC News on Thursday.
The source, however, cautioned that the company did not see the administration's move as a final order.by the Wall Street Journal, signals a significant shift in the U.S. stance toward Beijing-based ByteDance Ltd., which owns the popular video sharing app.In a statement, a spokesperson for TikTok said: “If protecting national security is the objective, divestment doesn’t solve the problem: a change in ownership would not impose any new restrictions on data flows or access.
Any divestiture by ByteDance Ltd. would have to be approved by the Chinese government. A Foreign Ministry spokesperson said Thursday that the U.S. had failed to provide any evidence that TikTok poses a threat to its national security. “The U.S. side should stop spreading false information on the issue of data security, stop unreasonably suppressing the enterprises concerned, and provide an open, fair, just and non-discriminatory business environment for enterprises of all countries to invest and operate in the U.S.,” the spokesperson, Wang Wenbin, said at a regular news briefing.
Brooke Oberwetter, a spokesperson for TikTok, told NBC News last week that the Biden administration already has the power to oversee the app through the Committee on Foreign Investment in the United States.
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