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President Trump said Monday that TikTok will be shut down in the U.S. if it hasn't been bought by Microsoft or another company by Sept. 15, and argued — without elaborating — that the U.S. Treasury should get "a very substantial portion" of the sale fee.

Why it matters: Trump appears to have backed off his threat to immediately ban TikTok after speaking with Microsoft CEO Satya Nadella, who said Sunday that the company will pursue discussions with TikTok’s Chinese parent company ByteDance to purchase the app in the U.S.

The big picture: TikTok has come under intense scrutiny in the U.S. due to concerns that the vast amounts of data it collects could be accessed by the Chinese government, potentially posing a national security threat.

  • Negotiations between TikTok and Microsoft will be overseen by a special government panel called the Committee on Foreign Investment in the United States (CFIUS), Reuters reports.

What he's saying: Trump appeared to suggest on Monday that Microsoft would have to pay the U.S. government in order to complete the deal, but did not explain the precedent for such an action. He also argued that Microsoft should buy all of TikTok, not just 30% of the company.

  • "I don't mind if, whether it's Microsoft or somebody else, a big company, a secure company, a very American company, buy it. It's probably easier to buy the whole thing than to buy 30% of it. How do you do 30%? Who's going to get the name? The name is hot, the brand is hot," Trump said.
  • "A very substantial portion of that price is going to have to come into the Treasury of the United States. Because we're making it possible for this deal to happen. Right now they don't have any rights, unless we give it to them. So if we're going to give them the rights, it has to come into this country. It's a little bit like the landlord/tenant," he added.

Our thought bubble, via Axios' Dan Primack: Trump's inexplicable claim that part of Microsoft's purchase price would have to go to the Treasury is skating very close to announcing extortion.

Go deeper: A wild weekend for Microsoft's play for TikTok

Go deeper

Dion Rabouin, author of Markets
Nov 10, 2020 - Economy & Business

The winners and losers in the market's vaccine rally

Reproduced from Charles Schwab; Chart: Axios Visuals

Risk assets had a very good day on Monday, but U.S. stock performance was mixed after news that a COVID-19 vaccine from Pfizer and BioNTech could be distributed to millions of people before the end of the month.

Why it matters: Beyond just stocks, Monday's market moves clearly reflected investor enthusiasm and a market pricing in a return to pre-pandemic life that will benefit risk at the expense of safety.

Students vandalize and steal from schools for viral TikTok challenge

TikTok logo displayed on a phone screen in Krakow, Poland on July 18, 2021. Photo: Jakub Porzycki/NurPhoto via Getty Images

A viral TikTok challenge is leading students nationwide to shatter mirrors, steal fire alarms and intentionally clog toilets, The Washington Post reports.

Driving the news: Dubbed the the “Devious Licks challenge, students are showing off their "devious licks" on TikTok — with a sped-up version of "Ski Ski BasedGod" by rapper Lil’ B playing in the background.

Axios-Ipsos poll: People of color face more environmental threats

Expand chart
Data: Axios/Ipsos poll; Note: ±2.5% margin of error; Chart: Sara Wise/Axios

Americans of color are much less likely than white Americans to experience good air quality or tap water or enough trees or green space in their communities, and they're more likely to face noise pollution and litter, a new Axios-Ipsos poll finds.

The big picture: Our national survey shows Black and Hispanic Americans are more likely than their white counterparts to live near major highways or industrial or manufacturing plants — and to have dealt in the past year with water-boil notices or power outages lasting more than 24 hours.