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Illustration: Aïda Amer/Axios

The Trump administration's existential threat to TikTok is again going down to the wire, as today is the deadline for when its Chinese parent company ByteDance must unwind a 2018 merger that helped create the app.

The big picture: There's no precedent for what might be coming after the stroke of midnight, and so far Treasury is turtling.

  • The Committee on Foreign Investment in the U.S. (CFIUS) has previously required that past mergers be unwound (e.g., Grindr), but never before has such an order not been met in time.
  • TikTok would, at least theoretically, be in violation of the law if it continues to operate, unless CFIUS grants it a 30-day extension (which it hasn't) or a judge grants it an emergency injunction (which TikTok sued for on Tuesday).
  • The original CFIUS ruling says that the U.S. Justice Department "is authorized to take any steps necessary."

"Wait a minute," says rhetorical reader. "I thought they had a deal with Oracle and Walmart that President Trump approved?"

  • Yes, but Trump only approved it in concept. The devil was in the details, particularly as it relates to data privacy and security, and those details remain bedeviled.

What TikTok is saying: "In the nearly two months since the President gave his preliminary approval to our proposal to satisfy those concerns, we have offered detailed solutions to finalize that agreement — but have received no substantive feedback."

What Treasury is saying: Nothing. Not only to reporters like me, but sources suggest that it also went dark on TikTok/ByteDance as the election neared.

The bottom line: TikTok is two-for-two in requesting court injunctions, but both of those cases related to sloppily-written executive orders. Overcoming CFIUS, which is designed to protect national security, could be a higher bar. In the meantime, over 1,500 U.S. workers and an estimated 100 million U.S. users hang in the balance.

Go deeper

Tech's election post mortem: Better than 2016, but lots of new woes

Illustration: Eniola Odetunde/Axios

Silicon Valley's platforms are relieved to see Election Day slip into the past and feel they did a much better job than in 2016 at deflecting foreign meddling and disinformation, even as critics continue to point out new failures and President Trump's refusal to concede has laid new challenges in their path.

Driving the news: With online polarization deepening after a close election, the CEOs of Facebook and Twitter will face hostile Senate questioning Tuesday from both sides of the aisle.

27 mins ago - Sports

The end of COVID’s grip on sports may be in sight

Illustration: Aïda Amer/Axios

Packed stadiums and a more normal fan experience could return by late 2021, NIAID director Anthony Fauci said yesterday.

Why it matters: If Fauci's prediction comes true, it could save countless programs from going extinct next year.

Trump's 2024 begins

Trump speaking to reporters in the White House on Thanksgiving. Photo: Erin Schaff - Pool/Getty Images

President Trump is likely to announce he'll run again in 2024, perhaps before this term even ends, sources tell Axios.

Why it matters: Trump has already set in motion two important strategies to stay relevant and freeze out other Republican rivals.