According to the Wall Street Journal, a recently updated Chinese export regulation could jeopardize TikTok's sale in the US.

China has updated its export control rules for the tech sector, possibly including TikTok.

On August 29, shortly after the articles of  The Wall Street Journal  and  The New York Times , the Xinhua  news agency  published similar information.

Cui Fan, a professor of international trade in Beijing, told  Xinhua  that ByteDance may need permission from the Chinese government to sell itself and that the company may have to suspend negotiations on TikTok sales.

CNBC  reported on August 27 that TikTok will announce the resale of its operations in the US, Canada, Australia and New Zealand in the coming days. This purchase agreement can be worth 20 billion to 30 billion USD.

However, ByteDance is reviewing offers from several corporations, including Oracle, Walmart and Microsoft.

US President Donald Trump issued an executive order earlier this month that would ban transactions by TikTok's parent company, ByteDance in the US.

On August 24, the group filed a lawsuit against the federal government over the Trump administration's efforts to block TikTok's activities in the US.

Meanwhile, TikTok has not yet commented on the above information.


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