The TikTok saga continues today, as the Chinese government has changed its rules on tech exports in a way that could outlaw the proposed TikTok sale t

Chinese government changes rules, could block TikTok sale to US company

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2020-08-31 12:04:30

The TikTok saga continues today, as the Chinese government has changed its rules on tech exports in a way that could outlaw the proposed TikTok sale to a US company.

China previously had rules banning the export of certain categories of technology to foreign countries, and it has now added to these in a way which seems intended to include TikTok …

President Trump earlier this month announced that TikTok would be banned in the US unless it was sold to an American company. He subsequently signed an executive order which went further than this, banning transactions with TikTok owner ByteDance and WeChat owner Tencent.

TikTok responded with a legal challenge, but in the meantime opened negotiations with Microsoft. Apple was briefly but erroneously reported to be among the other companies interested, with Twitter named as another potential suitor. Things got stranger still when Walmart joined Microsoft’s bid.

Late on Friday, Beijing issued new restrictions or bans on tech exports, requiring companies to seek government approval – a process that can take up to 30 days. In mid-August, Trump gave the company 90 days to sell up or face a shutdown.