President Donald Trump issued an executive order Thursday barring U.S. companies from doing business with ByteDance, the Chinese parent company of TikTok.
The order, which is set to go into effect in 45 days, would be a major blow to the popular short-form video app if it is not sold to a U.S. company. Microsoft has been in talks to buy TikTok’s U.S. operations and said last week that it would complete the discussions by Sept. 15.
