The Trump administration has blocked the proposed deal that would have seen TikTok’s US operations sold to Oracle and Walmart, and instead ordered the Chinese-owned video app to divest its US assets..
The decision, which was announced by the Treasury Department on Saturday, is a major blow to TikTok, which has been under pressure from the US government to sell its US operations or face a ban. The company has denied any wrongdoing and has said it is committed to protecting the privacy and security of its users..
The Treasury Department said in a statement that the decision was made after a review of the proposed deal, which it said .
