US Treasury seeks ‘resolution’ with ByteDance on security concerns – Latest News

The U.S. Treasury Department said it wants to reach a resolution of national security risks it has raised over ByteDance’s 2017 acquisition on, which it then merged into the TikTok video-sharing app.

The statement came a day after China-based ByteDance filed a petition with the U.S. Court of Appeals in Washington challenging a Trump administration order set to take effect on Thursday requiring it to divest TikTok.

“The Treasury Department remains focused on reaching a resolution of the national security risks arising from ByteDance’s acquisition of,” Treasury spokeswoman Monica Crowley said. “We have been clear with ByteDance regarding the steps necessary to achieve that resolution.”

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