Donald Trump: US treasury should get cut of Tiktok deal

Jammu, Aug 6: Donald Trump says the government should get a cut from the sale of TikTok's US unit if an American firm buys it.
Trump has given Microsoft the go-ahead to make a deal with social media giant TikTok – but only if the US gets a cut. It comes after days of discourse about the app’s future in the US market.
On Saturday (1 August), Reuters outlined that TikTok parent company ByteDance has agreed to deprive the US operations of TikTok completely, after Trump announced plans to ban the short-form video app in the US.
US officials have claimed that TikTok poses a national risk because of the personal data it handles. In a statement, the White House said it has “very serious national security concerns” regarding the Chinese app, which currently has 100m users in the US.
The US president said he made a demand for a "substantial portion" of the purchase price in a phone call at the weekend with Microsoft's boss.
He also notified he will ban the app, which is owned by China's ByteDance, on 15 September if there is no deal.ByteDance is under pressure to sell its US business after Mr Trump threatened a crackdown on Chinese tech companies.
Commenting generally on the situation that has evolved in recent days, ByteDance said: “TikTok US user data is stored in the US, with strict controls on employee access. TikTok’s biggest investors come from the US. We are committed to protecting our users’ privacy and safety as we continue working to bring joy to families and meaningful careers to those who create on our platform.”