The U.S. House has passed a bill that poses a potential TikTok ban if ByteDance doesn’t comply with divestment.
At 10:00 AM ET today, Wednesday, the U.S. House voted on the Protecting Americans from Foreign Adversary Controlled Applications Act. The bipartisan bill mandates that TikTok’s parent company, ByteDance, either sells the app or faces a ban in the U.S. The legislation sets a six-month timeline for TikTok to separate from ByteDance to continue its operations in the United States.
The US House of Representatives has overwhelmingly voted 352-65 in favor of passing a bill, the Protecting Americans from Foreign Adversary Controlled Applications Act, aimed at cracking down on TikTok, a popular video-sharing app owned by China’s ByteDance. The bipartisan support stems from concerns about TikTok’s ties to the Chinese government, citing potential threats to national security, user data handling issues, and accusations of spreading propaganda and censoring sensitive content.
On March 5, Reps. Mike Gallagher, a Republican from Wisconsin, and Raja Krishnamoorthi, a Democrat from Illinois, introduced the Protecting Americans from Foreign Adversary Controlled Applications Act. Gallagher chairs the House Select Committee on the Strategic Competition Between the United States and the Chinese Communist Party, while Krishnamoorthi serves as the ranking member.
Representative Mike Gallagher, chairman of the House Select Committee on Strategic Competition Between the United States and the Chinese Communist Party, along with Representative Raja Krishnamoorthi, provided insights. They explained that TikTok can maintain its presence in the U.S. by merely severing ties with CCP-controlled ByteDance. However, if TikTok opts to retain this control, the application will be removed from U.S. app stores, with the accountability resting on TikTok itself. This move reflects concerns about potential foreign adversary influence over popular social media platforms and aims to safeguard American interests.
The future of the bill remains uncertain in the Senate, with key figures opposing a drastic move against the widely popular app boasting 170 million US users. The White House has confirmed President Joe Biden’s intention to sign the bill, officially named the “Protecting Americans from Foreign Adversary Controlled Applications Act,” into law if it reaches his desk.
TikTok CEO Shou Zi Chew is currently in Washington, working to garner support to prevent the bill’s passage.
TikTok CEO Shou Zi Chew states that if the House bill is enacted into law, it will result in a ban on TikTok in the United States.
Stay informed with our financial updates, stocks, bonds, commodities. Get global & political insights. Follow us & enable notifications for the latest updates.