(Bloomberg) – President Donald Trump has said he will not buy a Bytons Ltd. ticket in the U.S. People involved in the sale of the property have been told that the deal should be done by September 15 and that the federal government should be offered a “good return,” or service closure.
“I told them they have until September 15 to make a deal – then we’ll close it in this country,” Trump told reporters before leaving for Air Force One for Wisconsin’s trip to Kenosha. “I said the United States must be compensated, well compensated.”
It is unclear whether the U.S. How to collect returns from ticket sales. The president said last month that the U.S. launch of the popular video streaming app. The operation had to be sold because its Chinese ownership made it a threat to national security.
U.S. with China Tickets have become a flash point for stress. Trump has stepped up his attacks on the video app as his administration stepped up pressure on China ahead of the November presidential election. China then banned the export of artificial intelligence technologies such as speech and text identification on Friday, jeopardizing potential sales. Restrictions make it difficult for Baitdance to get government approval for any deal.
“It’s difficult to say whether the deal will happen or not,” said Doug Berry, senior director of senior communications at the US-China Business Council. “Both countries want to dominate key technologies of the future.”
Trump believes the U.S. should address the national security threat posed by the ticket ok. Compensation is due and the administration is looking for ways to pay off any transaction, according to a person familiar with the matter. Another said it was not clear what Trump meant when he referred to compensation in a deal, and it would be the Treasury Department’s job to figure out how to do it. Both men did not ask for names in the discussion after public deliberation.
Microsoft Microsoft Ft Corp. Walmart Inc. to bid for assets. Have worked together and they have been fighting against the competition from Oracle Corp.
According to a person familiar with the matter, White House staffers have turned their attention to raising money from compliance costs.
The Committee on Foreign Investments in the United States, or CFIUS, evaluates the fees associated with a transaction under review. But those costs – set on a sliding scale and no more than $ 300,000 – appear to fall short of Trump’s demands.
Microsoft declined to comment. The White House, Ticket OK and Oracle did not immediately respond to requests for comment.
Microsoft is committed in a blog post to “providing a fair economic benefit to the United States, including the Treasury of the United States.” But that language refers to the general tax revenue and job creation, according to a person familiar with the matter.
Now Zhang Yiming, the founder of Bitdance, is reconsidering his options and weighing the implications of Beijing’s involvement, according to people familiar with the matter. The company’s regulatory team and deal negotiators are at a loss to discuss whether it is still possible to craft a sale that could get approval from both governments, an acquiser, venture investors and bytendance.
Trump has the authority to block foreign acquisitions of American businesses on the basis of national security under American law. The administration’s order requiring ticket sales is from the 2017 acquisition of ByteDance’s Musical.leena, which is based in the U.S. Is working in and has been merged with Ticket with K.
Trump on August 14 ordered Byte Nationals to sell tickets to the United States within 90 days, citing threats to American national security. After that, with the order of Aug Gust, U.S. The application was effectively banned within 45 days. Tiktak has sued the administration for blocking the ban, arguing that the move is unconstitutional and was driven by politics.
The restraining order cites Chinese access to data collected from the app, including location and browsing data. Ticket OK, a platform for creating and sharing short videos, is available in the US. Has grown from about 11 million monthly active users in January 2018 to 100 million today, according to the company. In January 2018, global consumption increased to about 2 billion, it is said.
“This data collection threatens to allow the Chinese Communist Party to allow access to Americans’ personal and proprietary information – possibly allowing China to track the whereabouts of federal employees and contractors, create personal information for blackmail and carry out corporate espionage.” Said 6 orders.
(Updates with US-China Council comments in paragraph 5)
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