- Trump issued a new executive order Friday seeking to force ByteDance to sell popular viral video app TikTok.
- Trump's order aims to retroactively invalidate ByteDance's purchase of Musical.ly, the app that eventually became TikTok, following a review by the federal agency in charge of overseeing foreign investments that could pose national security risks.
- The agency opened its probe into the deal last November, and US Treasury Secretary Steve Mnuchin said in a statement on Friday that the agency completed an "exhaustive review" and "unanimously recommended" that Trump unwind the deal.
- The move comes on the heels of an executive order Trump issued last week that also targeted TikTok by banning American companies from doing business with its Chinese-based parent ByteDance.
- This story is developing.
- Visit Business Insider's homepage for more stories.
Join the conversation about this story »
NOW WATCH: How waste is dealt with on the world's largest cruise ship
https://ift.tt/2E7I0Bn
Tags:
US Business news