PALO ALTO, U.S./TOKYO -- The U.S. government has told ByteDance to sell its stake in TikTok after more than two years of negotiations failed to convince Washington that the popular short-video app is not a national security risk, according to people familiar with the matter.
The Committee on Foreign Investment in the United States (CFIUS), an agency led by the Treasury Department that evaluates cross-border deals, told the Chinese tech giant to divest its stake, the people said. Failure to do so would leave TikTok facing a possible ban in the country.
