China and US flags are seen near a TikTok logo in this illustration Photograph:( Reuters )
If no sale happens before or on September 15
After calling for a ban on popular video sharing application TikTok, Trump on Monday said that the US government ought to get a “substantial portion” of sales coming in from operating the app in the US.
If no sale happens before or on September 15, the US president has promised to move forward with the ban.
According to Reuters, TikTok reportedly is valued at $50 billion.
"I did say that if you buy it, whatever the price is that goes to whoever owns it, because I guess it’s China essentially … I said a very substantial portion of that price is going to have to come into the Treasury of the United States because we’re making it possible for this deal to happen," Trump said.
TikTok owner ByteDance may move its headquarters to London from Beijing under a deal approved by British ministers.
According to The Sun newspaper, ByteDanceâ€™s founders are to announce their intention to set up shop in London soon.
The move is expected to upset US President Donald Trump who has considered banning TikTok in the United States.
Microsoft Corp said on Sunday that it would continue discussions to acquire popular short-video app TikTok from Chinese internet giant ByteDance, and that it was aiming to conclude the negotiations by September 15.
Microsoft had confirmed that the US-based company is considering to overtake the video-sharing app.
"Following a conversation between Microsoft CEO Satya Nadella and President Donald J Trump, Microsoft is prepared to continue discussions to explore a purchase of TikTok in the United States," the company said in a statement.
Meanwhile, Trump has agreed to give China's ByteDance 45 days to negotiate a sale of popular short-video app TikTok to Microsoft Corp, two people familiar with the matter said on Sunday.
“Nobody else would be thinking about but me, but that's the way I think”, he added.
There is no clarity on how the US would receive part of the purchase price.
On Monday, TikTok said that it is "committed to continuing to bring joy to families and meaningful careers to those who create on our platform as we build TikTok for the long term. TikTok will be here for many years to come."
Secretary of State Mike Pompeo, while talking about WeChat on Sunday said Trump "will take action in the coming days with respect to a broad array of national security risks that are presented by software connected to the Chinese Communist Party."
According to US officials, TikTok is a national risk owing to the personal data it controls.