Trump takes another swing at ByteDance with executive order on acquisition of Musical.ly

Washington: US President Donald Trump on Friday (local time) took another swing at China-based ByteDance by issuing an executive order on latter’s recent acquisition of karaoke video app Musical.ly and then merging it with TikTok.

According to the order, “The transaction resulting in the acquisition by ByteDance of Musical. ly, to the extent that Musical. ly or any of its assets is used in furtherance or support of, or relating to, Musical. ly’s activities in interstate commerce in the United States (“Musical. ly in the United States”), is hereby prohibited, and ownership by ByteDance of any interest in Musical. ly in the United States, whether effected directly or indirectly through ByteDance, or through ByteDance’s subsidiaries, affiliates, or Chinese shareholders, is also prohibited.”