NEW YORK: The Chinese government is complicating the US-government-ordered sale of US TikTok assets.
China on Aug 28 introduced export restrictions on artificial intelligence technology, seemingly including the type that TikTok uses to choose which videos to spool up to its users. That means TikTok's Chinese owner, ByteDance, would have to obtain a license to export any restricted technologies to a foreign company.
The Trump administration has threatened to ban TikTok and ordered ByteDance to sell its US business, claiming national-security risks due to that Chinese ownership. The government worries about user data being funneled to Chinese authorities. TikTok denies it is a national-security risk and is suing to stop the administration from the threatened ban.
Prospective buyers for US TikTok assets include Microsoft and Walmart and, reportedly, Oracle. (Oracle has declined to comment.)
On Aug 29 Chinese state-owned media outlet Xinhua News Agency quoted government trade adviser and professor Cui Fan, who said that Bytedance should consider whether it should halt negotiations to sell TikTok in the United States.
"As with any cross-border transaction, we will follow the applicable laws, which in this case include those of the United States and China,” said ByteDance General Counsel Erich Andersen.
- AP
Created by Tan KW | Aug 15, 2024
Created by Tan KW | Aug 15, 2024
Created by Tan KW | Aug 15, 2024
Created by Tan KW | Aug 15, 2024