There seems to be no end to this situation, on Aug 6th, the U.S issued a 45 day ultimatum for Chinese companies; bytedance and Tencent to divest their operations within the country and destroy all data they possess on American citizens, about a week later the ultimatum was extended to 90 days, probably to allow enough time for the transition process as Microsoft and Oracle had expressed interest in purchasing the U.S operations of tiktok.
This weekend, Bytedance are reportedly planning to challenge the executive order;
TikTok's legal challenge pertains to an earlier executive order, which Trump issued on Aug. 6, the sources said. That order directed the Secretary of Commerce to come up with a list of transactions involving ByteDance and its holdings that should be banned after 45 days.
TikTok plans to argue that the Aug. 6 executive order's reliance on the International Emergency Economic Powers Act deprives it of due process, according to the sources. TikTok will also contest its classification by the White House as a national security threat, the sources added.
This legal step is most likely an attempt to improve their bargaining position as negotiations continue. It would not stop the process of then divesting their operations within the country.
