"Before Mr. Trump's remarks, the two sides believed the broad strokes of a deal could be in place by Monday", the publication reported citing sources adding that Trump's opposition to the Microsoft-TikTok deal had prompted the app to make further concessions. In his testimony, Facebook CEO Mark Zuckerberg highlighted the threats coming from Chinese-owned apps like TikTok.
Some on social media are accusing Trump of singling out TikTok because pranksters used the app to order hundreds of thousands of tickets to his June 20 rally in Tulsa, Oklahoma, which attracted a smaller-than-expected crowd.
In response to the news, the people of the internet did what they do best: laugh at the pain of losing yet another beloved app.
TikTik also released a video on Saturday featuring U.S. General Manager Vanessa Pappas defending the app and touting U.S.jobs and other measures taken by the company. TikTok has some 80 million users in the United States, and around 1 billion worldwide.
ByteDance was previously seeking to keep a minority stake in the US business of TikTok, which the White House had rejected.
It was later reported on Saturday that ByteDance, the Chinese parent company of TikTok, agreed to divest the USA operations in a bid to save a deal with the White House, two people familiar with the matter told Reuters.
Todd shoots 1-under 69 for 54-hole lead at WGC American Koepka is back on track after a knee injury caused him to miss two of the last three cuts in his most recent tournaments. By the end of the round, she was happy to have a share of the lead in the LPGA Drive On Championship in Toledo, Ohio.
Up until now, ByteDance had been looking to retain a minority stake in the US TikTok business, but now they've agreed to exit completely, and "Microsoft would take over TikTok in the United States".
United States lawmakers have raised intelligence and privacy concerns about the company's ownership.
TikTok seems set to stay on American smartphones, thanks to a multi-billion deal that will be a win for most of the parties involved.
However, similar denials have not been enough to stop another Chinese tech company, Huawei, from being banned in the U.S. - with the White House subsequently pressuring allies to follow suit (GCSB Minister Andrew Little says our spy agency's decision to ban Huawei was made independently). TikTok has denied that it would share user information with the Chinese government.
Microsoft was reportedly in advanced talks with Bytedance Ltd, TikTok's parent company, with the potential for the deal to have been announced as soon as this coming Monday. The plan allows for a USA company other than Microsoft to take over TikTok in the United States, the sources added.
"When it comes to safety and security, we're building the safest app, because we know it's the right thing to do", she said.