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Commerce Department announces that it will ban US downloads of and business transactions with TikTok and WeChat on Sunday

- The Commerce Department announced it will ban U.S. business transactions with China-owned social apps WeChat and TikTok on Sunday.

CNBC Steve Kovach

Discussion

  • @paytm @paytm on x
    Dear Paytm'ers, Paytm Android app is temporarily unavailable on Google's Play Store for new downloads or updates. It will be back very soon. All your money is completely safe, and you can continue to enjoy your Paytm app as normal.
  • @mosseri @mosseri on x
    Careful with this headline, the ban is only of *new downloads* of TikTok, an outright ban will happen on 11/12 unless a deal is made. I've said this before, but a US TikTok ban would be quite bad for Instagram, Facebook, and the internet more broadly. https://www.wsj.com/...
  • @andrewrsorkin Andrew Ross Sorkin on x
    The TikTok ban news may not be what it seems: The real deadline for an absolute ban was subtly shifted from this Sunday to Nov 12 — after the election! — perhaps giving both sides more time to negotiate? The soap opera continues...
  • @etnowlive @etnowlive on x
    Google takes down @Paytm from #PlayStore. How will #Paytm respond to this? @vijayshekhar clears the air 👇 @NayantaraRai @GoogleIndia #PaytmRemoved #Paytmdown #GooglePlay https://www.pscp.tv/...
  • @paytm @paytm on x
    𝗨𝗽𝗱𝗮 𝘁𝗲: We continue to work with Google to restore our Android app. We assure all our users that their balances & linked accounts are 100% safe. Our services are fully functional on all existing apps and you can continue enjoying Paytm like before. https://blog.paytm.com/...
  • @bklynactivemama Nellie on x
    Not a fan of the app but this ain't it. This is terrifying on a whole mother level. https://twitter.com/...
  • @natsocold NatStar on x
    Boy if my kids could vote https://twitter.com/...
  • @andreakuszewski Andrea Kuszewski on x
    I think this is Trump's way of punishing China for Covid because he's an asshole https://twitter.com/...
  • @ezralevant Ezra Levant on x
    Fair's fair. China bans Facebook and Twitter. https://twitter.com/...
  • @pkafka Peter Kafka on x
    WeChat: Enormously popular with Chinese-Americans. Owned by Chinese company. Will be crippled in US Sunday night. TikTok: Enormously popular with Americans including some Trump voters. Owned by Chinese company, trying to do deal w/Trump supporters. Will be OK through election.
  • @tonyromm Tony Romm on x
    paradoxically, a move allegedly meant to protect privacy and security threatens at least briefly to have the opposite effect. if tiktok discovered some zero day, it would have no ability to patch and deliver an update. https://twitter.com/...
  • @alexeheath Alex Heath on x
    Head of Instagram https://twitter.com/...
  • @bgrueskin Bill Grueskin on x
    This should solidify Trump's command of the youth vote https://www.washingtonpost.com/ ...
  • @ibishblog Hussein Ibish on x
    The Trump administration said it is banning China's TikTok and WeChat from mobile app stores beginning this Sunday, Sept. 20, in a move that will sharply raise tensions with Beijing. https://www.washingtonpost.com/ ...
  • @advil Abdul on x
    land of the free baby https://twitter.com/...
  • @beirutspring Mustapha Hamoui on x
    Huge that WeChat is included... To listen to all the endless talk and analysis about TikTok you'd think they are the big villain... WeChat is like a thousand times more significant and important... https://twitter.com/...
  • @alexeheath Alex Heath on x
    TikTok and WeChat to be booted off U.S. App Stores on Sept 20 in an unprecedented move, though sounds like TikTok could still find a way to get a deal done with Oracle to save itself by Nov 12 https://www.commerce.gov/...
  • @danprimack Dan Primack on x
    On more TikTok thought... This entire thing is absurd. A company with hundreds of U.S. employees and hundreds of millions of U.S. users — some of whom generate income from it — is waiting for just one person, the President, to decide if it can continue.
  • @bobbychesney Bobby Chesney on x
    With sanctions against @tiktok_us & @WeChatApp set to take effect by Monday, the Commerce Department has just issued its explanation of exactly which transactions with the companies will be banned (as required by the original order) 1/4 https://www.commerce.gov/... via @CommerceG…
  • @jolingkent Jo Ling Kent on x
    Developing news: Commerce Dept will ban WeChat and TikTok app downloads by “eliminating access” in the US starting Sunday. Meanwhile.. TikTok is now #2 in the App Store. Here is the Commerce announcement: https://www.commerce.gov/...
  • @jchengwsj Jonathan Cheng on x
    Starting Sunday, the U.S. will prohibit any “service to distribute or maintain the WeChat or TikTok mobile applications...in the U.S.” and “any provision of services through the WeChat...for...transferring funds or processing payments within the U.S.” https://www.commerce.gov/...
  • @indopac_info @indopac_info on x
    Trump to block #US downloads of #TikTok, #WeChat on Sunday People with TikTok on their phones will still be able to use the app, but the experience will degrade without software updates https://www.cnbc.com/...
  • @cnbcnow @cnbcnow on x
    Trump to block U.S. downloads of TikTok, WeChat on Sunday. It's unclear if the Commerce Department's announcement means there's no possibility of a deal going through before the Sunday deadline. https://www.cnbc.com/...
  • @meridithmcgraw Meridith McGraw on x
    Just in: Commerce Dept is prohibiting the US from distributing (downloading) or maintaining WeChat and TikTok apps WeChat ban goes in place Sept 20 and Tiktok on Nov 12, unless national security concerns about its sale are resolved https://www.commerce.gov/...
  • @commercegov U.S. Commerce Dept on x
    #News: Commerce Department Prohibits #WeChat and #TikTok Transactions to Protect the National Security of the United States. https://www.commerce.gov/...
  • @secretaryross Sec. Wilbur Ross on x
    Today's actions prove once again that President @realDonaldTrump will do everything in his power to guarantee our national security and protect Americans from the threats of the Chinese Communist Party. https://www.commerce.gov/...
  • @selinawangtv Selina Wang on x
    Breaking: As of Sept. the following transactions are prohibited: Any provision of service to distribute or maintain the WeChat or TikTok mobile applications, constituent code, or application updates through an online mobile application store in the U.S. https://www.commerce.gov/.…
  • @sallyshin Sally Shin on x
    Press Release from Commerce: we have taken significant action to combat China's malicious collection of American citizens' personal data, while promoting our national values, democratic rules-based norms & aggressive enforcement of US laws/regulations https://www.commerce.gov/...…
  • @billweircnn Bill Weir on x
    “People with TikTok on their phones will also be able to continue to use the app, but the person said that the experience would degrade over the next two months unless a deal was approved by Mr Trump.” https://www.ft.com/...
  • @rmac18 @rmac18 on x
    Isn't this just going to encourage a flood of people to download it while they can? https://twitter.com/...
  • @stokel Chris Stokel-Walker on x
    My read of the TikTok deal with Oracle as reported by @inafried seems to be that this is more a win for TikTok than it is the US government, in that it's what the company has been largely saying it'd do throughout the CFIUS process https://www.axios.com/...
  • @yoda Drew Olanoff on x
    Lord help me if Peter Thiel is on that board. https://twitter.com/...
  • @pingroma Zheping Huang on x
    Per our DC reporters, the latest TikTok US proposal includes the formation of a national security committee, which would be chaired by a CIFUS point person. Might be a false equivalence but gotta say it reminds me of the Party committee in China Big Tech https://www.bloomberg.com…
  • @kantrowitz Alex Kantrowitz on x
    Kevin Systrom in the running to be TikTok's next CEO. It's lit. https://www.nytimes.com/... https://twitter.com/...
  • @eringriffith Erin Griffith on x
    Our latest on the TikTok saga: Instagram founder Kevin Systrom has had talks about becoming TikTok's new CEO. + other details on deal revisions, timeline, DC reactions, IPO plans. with @anaswanson @dmmcabe and special vacay cameo from @mikeisaac https://www.nytimes.com/...
  • @mattnavarra Matt Navarra on x
    The Social Network movie has an epic plot twist for its sequel. https://www.businessinsider.com/ ...
  • @caseynewton Casey Newton on x
    Systrom taking over TikTok to run it in direct competition with Instagram would be what we in the business call “a good story” https://twitter.com/...
  • @artjonak Art Jonak on x
    Instagram founder Kevin Systrom taking over TikTok as CEO to compete directly with Instagram — a potentially epic “chip on the shoulder” chapter for his future book... https://www.nytimes.com/... https://twitter.com/...
  • @aexm Ana Milicevic on x
    Ah, yes. They are required to hire a(nother) man named Kevin as their “full time” CEO (and not, say, a woman named Vanessa because lol why are women). https://twitter.com/...
  • @joannastern Joanna Stern on x
    Well, this would make things interesting! https://twitter.com/...
  • @john John Shahidi on x
    This keeps getting interesting. Would be an incredible move. Love @kevin. https://www.businessinsider.com/ ...
  • @chrisharihar Chris Harihar on x
    Vanessa Pappas rightfully made a big PR push over the last week as interim TikTok head, getting profiles in NYT & WSJ. Have to think that was part of a strategy to sell herself as a permanent CEO option. At very least, she's well-positioned to be CEO elsewhere if she ever leaves.…
  • @karaswisher Kara Swisher on x
    I support this hire of @kevin https://twitter.com/...
  • @joshconstine Josh Constine -SignalFire on x
    Instagram's Kevin Systrom becoming TikTok's CEO and crushing Reels would be the ultimate revenge for Zuckerberg stripping his autonomy. So spicy! https://twitter.com/...
  • @apollozac Zac Hall on x
    bad news for ipad app https://twitter.com/...
  • @nakashimae Ellen Nakashima on x
    Treasury Secty Steve Mnuchin is pushing hard for TikTok deal despite opposition. He called senior DOD officials Wednesday, including Ellen Lord, and indicated the deal would get done, despite concerns, sources said. https://www.washingtonpost.com/ ...
  • @karlbode Karl Bode on x
    can you even imagine the billable legal hours that will have gone into this intellectually incontinent dipshit parade? https://twitter.com/...
  • @jenniferjjacobs Jennifer Jacobs on x
    Scoop: Mnuchin sent Bytedance a counter offer last night with revised terms for the Tiktok deal and the company accepted it, sources tell me and @SalehaMohsin. Oracle accepted the terms, too. The changes address national security concerns about the @tiktok_us transaction.
  • @sentedcruz Senator Ted Cruz on x
    As I expressed in my letter to Sec. Mnuchin, any deal between Oracle and ByteDance that fails to address national security concerns should be rejected. The Chinese Communist Party uses platforms like #TikTok for propaganda or espionage. https://fortune.com/...
  • @theincrdblhulse Courtney Hulse on x
    I know everyone's excited about TikTok, but WeChat (owned by Tencent) is also under scrutiny with a decision coming up this weekend. Word is, the White House is discussing it today, and a decision (or at least some kind of development...) is due on Sunday. https://twitter.com/...
  • @sdonnan Shawn Donnan on x
    Is the Trump administration now gunning for #Fortnite after #Tiktok? Great story from @jendeben et al on how Washington is now asking gaming companies about their investments from China's' Tencent. https://www.bloomberg.com/...
  • @sbanjo Shelly Banjo on x
    This is going to be a big deal! If you think TikTok was bad, if the Trump admin starts unwinding investments by Tencent, the world's largest gaming company, this could have a major impact on the industry and tech markets https://twitter.com/...
  • @zhugeex Daniel Ahmad on x
    “The latest move is part of heightened scrutiny on Chinese companies and their ties to U.S. firms by the Trump administration. In August, President Donald Trump ordered a ban on Tencent's WeChat app.” CFIUS has the authority to block / unwind deals. https://www.bloomberg.com/...
  • @koush @koush on x
    Smells like the US will force more fire sales of Chinese companies under the guise of national security. TikTok was just a start. https://twitter.com/...
  • @slasher Rod Breslau on x
    the Trump administration has asked gaming companies related to Tencent, including sending letters to Epic Games and Riot Games, to provide information about their data-security protocols, according to a new report https://www.bloomberg.com/...
  • @thegrugq Thaddeus E. Grugq on x
    Been talking about this for a while now with @daveaitel @HostileSpectrum and others. Tencent is the big one. They loaded with cash, have hundreds of offensive security researchers, and they control extremely popular games: fortnite, 350m players league of legends, 115m players ht…
  • @tommackenzietv Tom Mackenzie on x
    Key points on this Tencent data scrutiny story: - It's US assets worth at least $22B, 6-7% of profits - includes Riot Games, Epic & Activision - CFIUS has power to order undoing of these investments https://www.bloomberg.com/... @QuickTake #Tencent #China #gaming https://twitter.…
  • @dylanbyers Dylan Byers on x
    The Committee on Foreign Investment in the United States (CFIUS) has sent letters to Epic Games, Riot Games and other TENCENT-backed video game companies re: data security...... https://www.bloomberg.com/...
  • @colinwilhelm Colin Wilhelm on x
    Fortnite *does* ask for a lot of user info on sign up...I'm, uh, told by sources. https://twitter.com/...
  • @daveaitel @daveaitel on x
    This is a smart move... https://cybersecpolitics.blogspot.com/ ... https://twitter.com/...
  • @jboorstin Julia Boorstin on x
    Sources tell me that TikTok Global plans to file for an IPO on one of the U.S. stock exchanges in about a year. @cnbc @CNBCtech
  • @sherman4949 Alex Sherman on x
    So this entire deal has changed from what was nearly accepted a few weeks ago. ByteDance is now set to IPO global TikTok, Oracle will own less than 20%, WMT will get stake — if Trump approves. No more carved out U.S. co. https://www.cnbc.com/...
  • @cnbcnow @cnbcnow on x
    UPDATE: Treasury Dept. sent major term sheet revisions to Oracle & TikTok last night to specifically address security concerns, sources tell @SaraEisen. The two companies agreed to Treasury's revisions in full, sources also said. https://www.cnbc.com/...
  • @kaylatausche Kayla Tausche on x
    BREAKING: Pres. Trump says he's getting briefed on TikTok deal tomorrow morning — but that, to his dismay, there won't be a payment to US Treasury. “Amazingly, I find that we're not allowed to do that.”
  • @cpen Carolyn Penner on x
    oh wow https://twitter.com/...
  • @cultrun John Mller on x
    Trump administration officials are looking to give American investors a majority share of the company that will take over the Chinese-owned video sharing app TikTok https://www.wsj.com/... a través de @WSJ
  • @seyitaylor @seyitaylor on x
    obviously this needs to happen for the circle to be complete. https://twitter.com/...
  • @acquiredfm @acquiredfm on x
    “Reason for taking the job, sir?” ⏹ It advances my career ⏹ It pays well ⏹ I've always wanted to manage a multinational geopolitical circus ✅ Pure spite https://twitter.com/...
  • @delrey Jason Del Rey on x
    If Walmart ends up owning a stake of TikTok, it's worth noting that Systrom, the former Instagram CEO, once was on Walmart's board of directors https://twitter.com/...
  • @sbanjo Shelly Banjo on x
    He was also one of the Facebook execs at Facebook that flew to shanghai for failed deal talks with Musically, which Bytedance ended up buying and turning into tiktok. https://twitter.com/...
  • @johnlukesam1 @johnlukesam1 on x
    Why is Trump interfering in the free market and holding up this Oracle/TikToc deal? Why do we have to wait for King Trump to rule? Maybe he's quid-pro-quo-ing again—I'll approve the deal if you give me or my campaign tens of millions in cash. https://www.cnbc.com/...
  • @puiwingtam Pui-Wing Tam on x
    Among those whom TikTok has talked to about being the new CEO of the app is Kevin Systrom, a founder and former chief executive of Instagram And all the latest via @dmccabe @eringriffith @AnaSwanson @MikeIsaac https://www.nytimes.com/...
  • @sherman4949 Alex Sherman on x
    Latest on TikTok *Oracle to own a 20% stake *WMT CEO Doug McMillon would sit on new board *While Trump said he didn't like the concept of ByteDance retaining majority stake, ownership stakes haven't been a recent issue of negotiation *Decision in 24-36 hrs https://www.cnbc.com/..…
  • @jenniferjjacobs Jennifer Jacobs on x
    NEWS: Tiktok deal inching forward. Bytedance accepted admin's counter offer without requesting any revisions. Oracle's making a bid for Chinese-owned social media app. Bytedance trying to win Trump approval for transaction. Story by me and @SalehaMohsin https://www.bloomberg.com/…