TikTok's parent company says proposal still requires approval from China and U.S.

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Published on 17 Sep 2020, 12:30
The Chinese parent company of #TikTok says its proposal for U.S. operations will need approval from both China and the United States. #Bytedance filed a proposal with the Trump administration last weekend to make software firm Oracle its technology partner in the country, allowing it to keep majority ownership of the app. President Trump has threatened to ban TikTok as soon as Sunday over alleged security concerns, while Chinese law requires an export licence for the transfer of technology abroad. Chinese officials have also said ByteDance should not be coerced by the U.S.

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