The US House of Representatives has approved a bill that could potentially lead to the banning of TikTok in America. The bill would require ByteDance, TikTok’s Chinese parent company, to sell its controlling stake within six months or face a ban on the app in the US. Although the bill passed with bipartisan support, it still needs approval from the Senate and the president to become law.
Lawmakers have expressed concerns about China’s influence over TikTok, as the app is owned by Chinese company ByteDance. If the bill is passed, President Joe Biden has indicated he will sign it, potentially sparking tensions with China. ByteDance would need approval from Chinese officials for a forced divestiture, which China has vowed to oppose.
The bill has received mixed reactions, with some arguing it is necessary to protect US national security, while others fear it could harm American jobs and businesses. TikTok has tried to reassure regulators that it has implemented measures to protect user data from being accessed by ByteDance employees in China.
The future of TikTok in the US remains uncertain, with potential buyers facing challenges such as the high valuation of the app and anti-monopoly concerns in the tech sector. Despite previous attempts to sell TikTok, no deal has been finalized. The app’s advertising revenue has increased significantly, with estimates suggesting it will generate billions in ad revenue from the US this year.
Overall, the fate of TikTok in America hinges on the outcome of the bill in the Senate and potential challenges in finding a suitable buyer for the app.
