The White House has also threatened to ban the Chinese app WeChat, which is run by TenCent. The video app said it will wage a legal fight against the Trump Administration’s efforts to ban the popular, Chinese-owned service over national-security concerns. Blackstone didn’t respond to a request for comment.TikTok investors who thought they’d hit a home run are struggling with a precipitous decline in value and have completely misjudged the political reality, one person familiar with the deliberations said, citing Sequoia partner Doug Leone’s overconfidence that the firm could influence the administration’s thinking. Make sure you Like, Comment, and subscribe My email is shaylohhigh@gmail.com My TikTok is sarahsmiles99 The unexpected order was tied to the CFIUS’ timeline, according to people familiar with the decision.ByteDance Ltd. bought the app Musical.ly in 2017 and merged it with TikTok to create a single, integrated social-media application. The company said it will file suit against the government later Monday, Aug. 24 in federal court in California. That’s true even though the Trump administration is “pushing authority in places it’s never been used before,” said Paul Marquardt, a foreign-investment review lawyer with Cleary Gottlieb in Washington.Still, the administration has “significant discretion” on national security, said Christian Davis, a Washington lawyer with Akin Gump whose practice focuses on foreign investment and international trade. WeChat is indispensable to cross-border business and could have real implications on American companies that do business in China.The earlier executive orders to ban TikTok and WeChat were announced around 9 p.m. on Aug. 6, just minutes after Air Force One touched down in Morristown, N.J.’s Municipal Airport, where the president was en route to his golf club in Bedminister, according to his public schedule.Trump was returning from Ohio, where he held a campaign rally and gave a speech at a Whirlpool Corp. manufacturing plant about trade, promising to bring jobs back to America’s factory workers from China.Accompanied by trade adviser Peter Navarro, who is among the most anti-China officials in his circle, Trump signed the executive orders banning the apps while still on the plane, surprising at least some Trump administration officials in Washington who were unaware the orders were landing that night and were surprised by how quickly they were put together, according to two people familiar with the actions.In the following days, a faction in the Trump administration began getting complaints from trade groups and U.S. businesses worried that a WeChat ban could be bad for business. TikTok, which is owned by China’s ByteDance, insisted Monday that it is not a national-security threat and that the government is acting without evidence or due process. Read on.Why is Dwayne Bravo T20’s original fantasy player?Owaisi forms third front ahead of Bihar elections,MoS Bacchu Kadu, ex-finance minister Sudhir Mungantiwar test Covid positive,Uttarakhand govt asks districts to check higher positivity rates of private labs by random re-testing,Maharashtra govt clears way for colleges to set up satellite centres in rural, tribal regions,Destination Alang, INS Viraat sets sail for the last time,Mumbai: Man held for ‘selling off’ 1993 blast convict Memon’s grave, three more of his family,Bhartiya Kisan Sangh: Farm Bills in present form not acceptable,Statutory provisions on reporting (sexual offenses). TikTok enables everyone to be a creator, and encourages users to share their …

But the administration has provided no specific evidence that TikTok has made U.S. users’ data available to the Chinese government. Other American tech companies, including Twitter Inc., have also explored possible TikTok bids but it’s unclear how far those talks have gone, according to multiple people familiar with the deliberations.Large venture capital and private equity firms including Sequoia Capital and General Atlantic have billions of dollars on the line and are trying to make the sale of TikTok a more competitive process, which could drive the price higher, avoid a fire sale to Microsoft, and ensure TikTok ends up in the hands of the right bidder, according to one person involved in the discussions.Goldman Sachs Group Inc. and Blackstone Group are among the financial firms that have been jostling for a role in any deal, but the attempts haven’t made headway, according to three people familiar with the deliberations.Goldman Sachs, Sequoia, and General Atlantic declined to comment. officials point to the hypothetical threat that lies in the Chinese government’s ability to demand cooperation from Chinese companies. TikTok to fight Trump over his pending order to ban its app Republican and Democratic lawmakers have concerns about TikTok Over the past year, TikTok has … Some began approaching Mnuchin and Commerce Department officials, who are charged with writing the rules of how to execute the order, pushing the department to walk back some of the most aggressive language in the executive orders.“WeChat’s communications and payment platforms are fundamental to communicating with and selling to China’s 1.4 billion consumers,” said Myron Brilliant, head of international affairs at the U.S. Chamber of Commerce. It installed a former top Disney executive as its American CEO and named two other Americans,Both Republican and Democratic lawmakers have shared concerns about TikTok that ranged from its vulnerability to censorship and misinformation campaigns to the safety of user data and children’s privacy.

The White House referred questions on Friday’s decision to the Treasury Department.On Saturday, Trump told reporters at his golf club in Bedminster, New Jersey, that other Chinese companies may come under his administration’s scrutiny.