TikTok Not Off The Hook With US: Treasury Secretary Yellen

TikTok is still in the dock when it comes to unresolved privacy issues, US Treasury Secretary Janet Yellen said on Monday.

But Yellen, in an interview with CNBC, declined to discuss details involving the short video platform owned by Chinese parent company ByteDance, citing pending legal action that prevents US regulators from acting.

“We do have concerns around the potential issues with privacy and social media,” she said, adding that she cannot discuss TikTok specifically. “This is a matter that has not yet been resolved.”

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“This wasn’t an explicit matter of discussion” between US President Joe Biden and Chinese President Xi Jinping when they met last week, Yellen told CNBC.

She said she discussed Chinese investments in the United States with her Chinese counterpart during their own meeting, including the process involving the Committee on Foreign Investment in the United States (CFIUS).

CFIUS is an inter-agency committee, chaired by the Department of Treasury, which reviews foreign investments in US businesses and real estate that implicate national security concerns.

Yellen added that both the Washington and Beijing recognise that they have the opportunity to work together after the presidents met last week.

Reuters with additional editing by Sean O’Meara

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Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.