U.S. President Trump signed two executive orders on the 6th local time, announcing that it would prohibit any American individuals and companies from conducting any transactions with TikTok’s parent company ByteDance after 45 days, and prohibit American individuals and The enterprise conducts any transactions related to WeChat with Tencent.
According to a White House document seen by Reuters, Trump’s executive order against TikTok may prevent the U.S. App Store from providing this popular short video application, and buying ads on the platform would also constitute an illegal act . The White House stated in the document, “Prohibited transactions may include agreements that allow TikTok applications to be listed in the app store… Purchase ads on TikTok and accept the terms of service for downloading TikTok applications to users’ devices. “A source familiar with the White House document confirmed the authenticity of the document.
Reuters also said that TikTok has notified its contracted advertisers that the company will continue to honor the planned advertising cooperation, refund unachievable advertising cooperation funds, and coordinate with the anchor on the platform to migrate part of the advertising to other platforms.
Naijatechnews.com learned that Microsoft is currently negotiating with TikTok to acquire TikTok’s business in North America, Australia and New Zealand.
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