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