Aug 1, 2020 - Economy & Business

Trump says he wants to ban TikTok app

Illustration: Aïda Amer/Axios

President Trump said Friday that he plans to ban Chinese video app TikTok as soon as Saturday, via either executive order or emergency economic powers, according to White House press pool comments.

Why it matters: TikTok has been caught in the crossfires of the United States' escalating tensions with China.

What he's saying:

"As far as TikTok is concerned we’re banning them from the United States. ... Well, I have that authority. I can do it with an executive order or [emergency economic powers]."
— Trump to reporters aboard AF1

Earlier on Friday, reports emerged that Microsoft is in talks to potentially acquire TikTok from its parent company, Bytedance (a group of investors has also reportedly made a bid).

  • Yes, but: The president made it clear during his comments that he's not in favor of such a deal that would result in the company having American ownership (a process that would be subject to review by the Committee on Foreign Investment in the United States).

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Orion Rummler
Aug 11, 2020 - Politics & Policy

National Governors Association leaders express concern over Trump's unemployment order

President Trump at a press briefing on Aug. 10. Photo: Alex Wong/Getty Images

President Trump's executive action calling on states to provide 25% of an additional $400 in weekly unemployment benefits poses "significant administrative burdens and costs," according to a bipartisan letter from the leaders of the National Governors Association.

Why it matters: Many states have had their budgets decimated by the coronavirus pandemic and cannot afford pitching in an $100 extra per unemployed resident. Several state unemployment offices told Axios that they don't even know how the program works, and that any changes to state unemployment systems would take weeks to implement.

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Sara Fischer, Ashley Gold, Kyle Daly, Dan Primack
4 hours ago - Technology

Trump tightens screws on ByteDance to sell Tiktok

Illustration: Aïda Amer/Axios

President Trump added more pressure Friday night on China-based TikTok parent ByteDance to exit the U.S., ordering it to divest all assets related to the U.S. operation of TikTok within 90 days.

Between the lines: The order means ByteDance must be wholly disentangled from TikTok in the U.S. by November. Trump had previously ordered TikTok banned if ByteDance hadn't struck a deal within 45 days. The new order likely means ByteDance has just another 45 days after that to fully close the deal, one White House source told Axios.

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Axios
Updated 4 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 9:30 p.m. ET: 21,056,850 — Total deaths: 762,293— Total recoveries: 13,100,902 — Map.
  2. U.S.: Total confirmed cases as of 9:30 p.m ET: 5,306,215 — Total deaths: 168,334 — Total recoveries: 1,796,309 — Total tests: 65,676,624 — Map.
  3. Health: CDC: Survivors of COVID-19 have up to three months of immunity —Fauci believes normalcy will return by "the end of 2021" with vaccine — The pandemic's toll on mental health — FDA releases first-ever list of medical supplies in shortage.
  4. States: California passes 600,000 confirmed coronavirus cases.
  5. Cities: Coronavirus pandemic dims NYC's annual 9/11 Tribute in Light.
  6. Business: How small businesses got stiffed — Unemployment starts moving in the right direction.
  7. Politics: Biden signals fall strategy with new ads.
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