The US Department of the Treasury on Wednesday said it had extended by seven days the deadline given to the Chinese owner of TikTok to sell the popular social media platform’s US business.
“The Committee on Foreign Investment in the United States has granted ByteDance [字節跳動] 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,” a department spokesperson said.
US 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.
The ban has been challenged in courts, including a case in Washington and a separate filing by the app’s “creators” in a Pennsylvania court, which blocked the ban on Oct. 30, although the government is appealing that order.
Trump, who lost his bid for re-election this month, has claimed that TikTok — which has about 100 million US users — 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 US investors to avert a ban. However, any plan would likely need approval from Beijing, which has balked at giving up control of its social media star.
The Chinese Ministry of Commerce published new rules in August that added “civilian use” to a list of the types of technology that are restricted for export, which could make it more difficult for ByteDance to sell TikTok, which features clips of everything from dance routines to politics.
A deal appeared to take shape earlier this year, which would allow Silicon Valley giant Oracle Corp to be the data partner for a newly incorporated TikTok Global, with Walmart joining as a commercial partner.
While Trump signaled his approval for the plan, it has not been finalized and the prospects remain unclear.
The developments come amid heightened tensions between Washington and Beijing over trade and national security, with the US administration having also banned Chinese tech giant Huawei Technologies Co (華為) from obtaining US technology and from deals involving wireless networks.
From India to China to the US, automakers cannot make vehicles — not that no one wants any, but because a more than US$450 billion industry for semiconductors got blindsided. How did both sides end up here? Over the past two weeks, automakers across the world have bemoaned the shortage of chips. Germany’s Audi, owned by Volkswagen AG, would delay making some of its high-end vehicles because of what chief executive officer Markus Duesmann called a “massive” shortfall in an interview with the Financial Times. The firm has furloughed more than 10,000 workers and reined in production. That is a further blow
MOBILE SMART: The Dimensity 1200 is 22 percent better in terms of performance than its predecessor, and 25 percent more power-efficient, the handset chip designer said MediaTek Inc (聯發科) yesterday unveiled its premium 5G processors — the Dimensity 1200 and Dimensity 1100 — as it vies for a larger slice of the world’s rapidly growing 5G smartphone market. Manufactured using Taiwan Semiconductor Manufacturing Co’s (台積電) 6-nanometer process technology, the Dimensity 1200 processor performs 22 percent better than the previous generation Dimensity 1000+ processor, and is 25 percent more power-efficient, MediaTek said. Chinese smartphone brands Xiaomi Corp (小米) and Realme Mobile Telecommunications (Shenzhen) Co (銳爾覓移動通信) are to be the first adopters of the latest Dimensity chips, the companies said during a virtual media briefing. Xiaomi plans to equip its first
Answering to a reported request by Germany to help address a chip shortage in its auto industry, the Ministry of Economic Affairs (MOEA) yesterday said that it was in talks with domestic chip suppliers. Foreign media over the weekend reported that German Minister of Economic Affairs Peter Altmaier had sent a request to Taipei to ask Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) to cooperate more closely with German automakers to provide microchips and sensors, to bridge a shortage that has emerged over the past few months. The MOEA said that it had not yet received the request and could therefore not elaborate
FOCUS ON FOUNDRIES: An analyst said that some investors would be disappointed because they were expecting a larger announcement of a partnership with TSMC Intel Corp’s incoming chief executive officer Pat Gelsinger on Thursday pledged to regain the company’s lead in chip manufacturing, countering growing calls from some investors to shed that part of its business. “I am confident that the majority of our 2023 products will be manufactured internally,” Gelsinger said. “At the same time, given the breadth of our portfolio, it’s likely that we will expand our use of external foundries for certain technologies and products.” He plans to provide more details after officially taking over the CEO role on Feb. 15, but Gelsinger was clear that Intel is sticking with its once mighty