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Microsoft reportedly puts TikTok acquisition talks on hold

Talks between Microsoft and TikTok parent company ByteDance were paused after President Trump voiced his opposition to the deal, The Wall Street Journal reported Saturday. And while the deal does not appear to be dead, both parties are reportedly trying to get a handle on where the Trump administration stands, and if it plans any future action against the Chinese-based video sharing app.

President Trump told reporters Friday he was planning to ban TikTok from operating in the US. “As far as TikTok is concerned, we’re banning them from the United States,” Trump told reporters aboard Air Force One. Bloomberg reports the president said he was ready to sign a document to order the ban as early as today, either via an executive order or emergency economic powers.

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“I will sign the document tomorrow,” he said on Friday night, indicating that a ban could take effect “essentially immediately.”

Microsoft was in advanced talks with ByteDance prior to the president’s comments, the WSJ said. Trump’s remarks led TikTok to agree to add 10,000 jobs in the US. Whether that will still hold after the president’s comment was unclear Saturday.

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As threats to the company mount, TikTok pushes back