China is implementing new technology export regulations, which could mean that any sale of TikTok by ByteDance would require Beijing approval. China has added 23 technologies to its list of banned technologies, including data analysis services based on data analysis and interactive artificial intelligence interface technology. According to the Wall Street Journal, a Chinese government official told state news agency Xinhua that ByteDance should carefully consider suspending talks on selling TikTok. THE Microsoft was the first US company to show interest in acquiring TikTok, which will apparently include Walmart, while other large technology companies, including the TwitterThe Netflix and Oracle.
In all these circumstances and scenarios that have been created around TikTok in the US, TikTok CEO Kevin Mayer resigned on August 27, completing just six months in the company. The changes to China's export regulations came to light just days after Kevin Mayar said in his resignation letter to staff that the company would reach a resolution very soon.
Moreover, this move by China comes after Donald Tramp signed an executive order on August 6, blocking all transactions with ByteDance and asked a US company to buy the US company TikTok. The order was to be implemented within 45 days. Also on August 14, Trump signed an order giving ByteDance 90 days to sell or post TikTok in the United States.
Trump carried out the executive orders, stressing that applications such as TikTok and WeChat pose a threat to the US. The president described the two Chinese applications as a “national emergency” in relation to the information and communication technology supply chain. In particular, he stated that TikTok automatically collects a lot of information from its users, such as Internet and other network activity information, such as location data and browsing and search history. He added that this collection data carries the risk of allowing access of the Chinese Communist Party to sensitive and confidential information of American citizens, possibly enabling China to monitor the locations of US officials and services, create personal information files for blackmail and espionage.
To date, more than 175 million TikTok downloads have been recorded in the US and approximately 800 million worldwide.