Beijing, September 12 : As the deadline for ByteDance, TikTok’s parent firm, to sell its US business inches closer, the Chinese govt on Sat. stated the Donald Trump administration’s deadline is tantamount to “coercive robbery”.
The US President has categorically stated that he’ll not extend the Sep 20 deadline for China-based ByteDance to sell the US business of TikTok (or) face the full ban.
“The cheats of economic bullying & political manipulation that the US performed on non-American businesses are tantamount to coercive robbery,” stated a Chinese Foreign Ministry spokesman, Xinhua press agency recorded.
The business sales talk of TikTok within the US has hit roadblock after China’s update of the technology export regulations. The update covers Artificial Intelligence (AI) technologies utilized by ByteDance.
China past month updated the list of technologies which were subject to export bans. The new list, declared jointly by China’s Ministry of Commerce & the Ministry of Science & Technology, added further 23 items to export constraints awhile technical parameters of 21 items have been revised.
The new update within the export regulations cover constraints on technologies like text analysis, content recommendation & voice-recognition. The technologies on the list can’t be exported without sanction from officials in China.
ByteDance had stated that “the firm going to precisely abide” by this new export regulations enforced by China.
Multiple US businesses involving Walmart/Microsoft & Oracle are within the fray to purchase TikTok’s US activities, that is touted within the range of $20 billion-$30 billion.