On Wednesday, The US Treasury extended the deadline given to TikTok to sell the popular social media platform to American business by seven days till December 4.
A Treasury spokesperson said: “The Committee on Foreign Investment in the United States (CFIUS) has granted ByteDance a one-week extension, from November 27, 2020 to December 4, 2020 to allow time to review a revised submission that the Committee recently received.”
President Donald Trump’s administration has expressed national security concerns over the app, claiming it could be used for Chinese espionage and threatening to ban it.
Trump said that the app can be used to collect data on Americans for Chinese espionage, a claim denied by the company.
The White House has said TikTok must become a US firm controlled by American investors to avert a ban.