FILE PHOTO: The TikTok app logo is seen in this illustration taken August 22, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
Washington, United States — US President Donald Trump said Monday that Microsoft is in talks to acquire TikTok, while the app’s future in the country faces uncertainty.
TikTok is facing down a US law that ordered the company to divest from its Chinese owner ByteDance or be banned in the United States.
free slot games for fun Article continues after this advertisementAsked late Monday if Microsoft was in discussion for acquiring TikTok, Trump told reporters: “I would say yes.”
FEATURED STORIES BUSINESS BOC intercepts undeclared foreign currency worth Php 24.20M BUSINESS BIZ BUZZ: Robina celebrates ‘twin’ BUSINESS Property, economy roundup: What’s driving the momentum“There’s a lot of interest in TikTok, there’s great interest in TikTok,” he added aboard Air Force One.
READ: Trump gives TikTok 75-day grace period from US ban
Article continues after this advertisementHe noted that a “bidding war” would also be a good development.
Article continues after this advertisementA law banning the video-sharing platform took effect January 19 over concerns that the Chinese government could exploit it to spy on Americans or covertly influence US public opinion.
Article continues after this advertisementBut Trump has suspended its implementation for two and a half months, seeking a solution with Beijing.
Microsoft is among likely buyers who would have a reason to invest in TikTok, said Angelo Zino at CFRA Research.
Article continues after this advertisementHe believes Microsoft “has had a desire to get more entrenched into the digital ad space.”
TikTok temporarily shut down in the United States as the deadline for the law approached.
Trump then promised to issue an executive order as soon as he took office to delay the ban to allow time to “make a deal.”
TikTok restored service subsequently in the country, crediting Trump for making the reversal possible — though the outgoing Biden administration had earlier said that it would not enforce any ban.
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Another record session Friday on Wall Street crowned a sixth weekly gain in a row, but failed to carry over into Monday and inspire a similar rally elsewhere.
The one-year Loan Prime Rate (LPR), which constitutes the benchmark for the most advantageous rates lenders can offer to businesses and households, was cut from 3.35 percent to 3.1.
In his first White House stintmegapanalo, Trump had attempted to ban TikTok in the United States on national security concerns.
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