WASHINGTON, Sept. 18 (CNBC-US) -- The Commerce Department announced Friday morning that it would ban U.S. business transactions with China-owned social apps WeChat and TikTok on Sunday.
The announcement comes as President Donald Trump was expected to announce whether or not the government will approve a deal for Oracle to take a minority stake in TikTok and become a “trusted technology partner” for the company in the U.S.
It’s unclear if the Commerce Department’s announcement means there’s no possibility of a deal going through before the deadline.