U.S. President Donald Trump has announced that TikTok will "be out of business in the United States" if the Chinese parent company ByteDance does not sell it to an American company by September 15, providing the U.S. Treasury Department with "a lot of money." He made the corresponding statement at a press conference in the White House, explaining in detail why, in his opinion, Microsoft or another "big," "secure," and "very American" company should buy TikTok.

Also, Trump said ByteDance should sell TikTok in its entirety, not part (30%) of the business.

Microsoft Will Continue Discussions to Buy TikTok in the US
In its blog post, Microsoft confirmed talks on the purchase of the American share of TikTok, and declared its readiness to continue discussing the potential deal after a conversation between Microsoft CEO and US President.

Only last Saturday, Donald Trump announced his readiness to ban this social media platform in the United States and made it clear that he does not support the acquisition of TikTok by the American company. The president's rhetoric on TikTok has changed after a recent conversation with Microsoft CEO Satya Nadella.

On August 2, Microsoft made an official statement confirming its intention to buy part of the TikTok business and discussing a deal with Trump. Microsoft also designated September 15 as the deadline for the completion of talks. If the parties agree, Microsoft will take control of TikTok in the US, Canada, Australia, and New Zealand. In case of buying TikTok, Microsoft promised to transfer all data to American servers and make sure that they are entirely removed from foreign servers.