WASHINGTON (Reuters) – President Donald Trump’s unprecedented demand that the United States get a cut of the proceeds from the forced sale of Chinese internet giant ByteDance’s short-video app TikTok is based on an interpretation of U.S law that regulatory lawyers say may be open to challenges.
FILE PHOTO: China and U.S. flags are seen near a TikTok logo in this illustration picture taken July 16, 2020. REUTERS/Florence Lo/Illustration/File Photo
The Committee on Foreign Investment in the United States (CFIUS), a U.S. government panel that reviews deals for potential national security risks, has given ByteDance until Sept. 15 to negotiate a sale of TikTok to Microsoft Corp (MSFT.O), amid concerns over the safety of personal data that the app handles under its Chinese parent.
Microsoft has said it is seeking to buy the assets of TikTok in North America, Australia and New Zealand. It has not disclosed how