TikTok

TikTok Can Continue to Operate in the U.S., Commerce Department Says

Nicolas Asfouri | AFP | Getty Images
  • The Commerce Department said Thursday it will "comply with the terms" of a preliminary injunction allowing TikTok to continue to operate in the U.S.
  • TikTok is still seeking clarity around whether or not it can move forward with a 20% minority stake sale to Oracle and Walmart.

The U.S. government has given TikTok a stay of execution.

The Commerce Department said Thursday it will abide by an Oct. 30 temporary injunction that prevented the government from effectively shutting down TikTok.

Earlier this week, TikTok filed a petition in the US Court of Appeals for the D.C. Circuit seeking clarity on its future. ByteDance, TikTok's parent company, agreed to sell 20% of TikTok Global to Walmart and Oracle while making Oracle a "trusted technology partner" in the U.S.

The Commerce Department order doesn't address the CFIUS mandate demanding TikTok sell its U.S. assets. Rather, it reaffirms TikTok can continue to operate in the U.S.

TikTok continues to wait for more government guidance about how to proceed with its minority stake sale. President Donald Trump agreed to the deal in August. But the transaction never got the approval of the Chinese government, and Trump administration officials have gone silent on their demands in the weeks leading up to the election.

Copyright CNBCs - CNBC
Contact Us