TikTok Ban Bill Signed by President Biden
Provision Tucked into Ukraine Aid Package
App Valued at $150 Billion
President Joe Biden has signed a bill that could lead to a ban on TikTok in the United States if the popular social media app remains under Chinese ownership.
The provision to ban TikTok was included in a $95 billion package of aid to Ukraine that Biden signed into law on April 24, 2024. The app, which is owned by the Chinese company ByteDance, has been under fire from U.S. lawmakers who worry that it could be used by the Chinese government to collect data on American users.
TikTok has denied these allegations and has said that it does not share user data with the Chinese government. However, the Biden administration is concerned that TikTok could be used to spread disinformation or influence American elections.
If the bill signed by Biden becomes law, it would give TikTok 270 days to find a buyer. If the app is not sold by that deadline, it will be banned in the United States.
TikTok is one of the most popular apps in the world, with over 1 billion active users. It is particularly popular with young people, who use the app to share short videos and connect with friends.
A ban on TikTok would be a major blow to the company, which made $16 billion in revenue in the United States in 2023. It would also be a blow to American users, who would lose access to one of their favorite apps.
It is not clear whether the bill signed by Biden will actually become law. The bill still needs to be passed by the House of Representatives. Even if the bill is passed by the House, it is possible that Biden will veto it.
However, the signing of the bill is a sign that the Biden administration is serious about its concerns about TikTok. It is also a sign that the United States is increasingly concerned about the influence of China on the American economy and society.
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