Jim Cramer: Chinese Are Trying to Save Some Face in the TikTok Deal

Katherine Ross

So where does the Trump Administration stand with TikTok heading into the weekend?

ByteDance, TikTok’s Chinese owner, has asked a federal judge to stop the Trump administration from enforcing a ban that would remove the video-sharing app from U.S. app stores on Sept. 27.

The company filed for a temporary block on the ban Wednesday even as it continues to pursue approvals from the Trump administration for a sale of its U.S. operations to Oracle and Walmart, Bloomberg reported.

ByteDance’s request, Bloomberg noted, deploys many of the same arguments a group of WeChat users made to win a preliminary injunction last weekend against a similar ban.

ByteDance, meanwhile, has applied for a technology export license with authorities in Beijing.

The company filed the request after China tightened restrictions on the export of certain technologies, including those used in TikTok. A spokesman for Beijing's commerce ministry acknowledged the filing Thursday, saying it’ll be assessed “in accordance with the relevant rules and procedures.”

Jim Cramer gives his latest thoughts on the deal the video above.

You can follow Jim Cramer and Katherine Ross on Twitter at @JimCramer and @byKatherineRoss. Read more from Katherine Ross here.

Latest Videos From TheStreet and Jim Cramer:

LIVE WITH JIM CRAMER - WATCH THE REPLAY
Enter your email to register or login. Registration information may be shared with advertising partners in accordance with our Privacy Policy.
Comments (3)
No. 1-2
AlexM5
AlexM5

once ByteDance gets into technology its over with!

JavierFrausto
JavierFrausto

I hope the best case scenario works out for ByteDance, it worked with WeChat, now its time for ByteDance.