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US Senator says TikTok divestiture deadline could be extended to one year

Economic Times

Economic Times · 1y ago

US Senator says TikTok divestiture deadline could be extended to one year

Lawmakers in the US may extend the deadline for TikTok's parent company, ByteDance, to divest the video-sharing app. The US House of Representatives has already voted in favor of giving ByteDance about six months to sell off TikTok's US assets or face a ban. Senate Commerce Committee chair Maria Cantwell suggested extending the deadline to one year, a move that could put the potential ban into 2025. The concerns over TikTok stem from worries about national security and data privacy, but TikTok denies any wrongdoing and maintains it has never shared US user data with China.

Related News

After joining TikTok, Trump says he could extend sale deadline if needed - The Economic Times

Economic Times

Economic Times · 6d ago

After joining TikTok, Trump says he could extend sale deadline if needed - The Economic Times

President Trump expressed interest from U.S. buyers in acquiring TikTok, hinting at a possible extension for ByteDance's divestiture deadline. Downplaying security concerns, Trump stated his administration would monitor the app's operations. He noted not having discussed the matter with China’s President Xi Jinping yet. Amid legal requirements for ByteDance to divest U.S. assets, Trump remained a fan of TikTok, disregarding national security issues and considering further deadline extensions.

US senator Warner says new Donald Trump TikTok extension may violate law

Economic Times

Economic Times · 4m ago

US senator Warner says new Donald Trump TikTok extension may violate law

Senator Mark Warner criticized President Trump's decision to extend the deadline for ByteDance, TikTok's parent company, to divest its U.S. assets, claiming it violates legal requirements. Warner expressed concerns that the proposed deal would allow ByteDance to retain influence over TikTok, endangering national security. The deal involves creating a U.S.-based company for TikTok, but requires Chinese approval, causing opposition. Trump's administration is engaging with several groups regarding the potential TikTok acquisition.

An OpenAI investor says TikTok is China's 'programmable fentanyl,' a CCP-controlled tool used to manipulate US citizens

Business Insider

Business Insider · 1y ago

An OpenAI investor says TikTok is China's 'programmable fentanyl,' a CCP-controlled tool used to manipulate US citizens

Billionaire and OpenAI backer Vinod Khosla expressed his support for the forced divestiture of TikTok from its Chinese parent company, ByteDance. In an op-ed for the Financial Times, Khosla argued that TikTok could be weaponized by a foreign adversary and accused China of perpetuating double standards. Khosla believes that preventing a foreign adversary from controlling a platform like TikTok is crucial for national security. He compared TikTok to a "subversion weapon" controlled by the Chinese Communist Party and urged for similar national security concerns as those surrounding Huawei routers. Roughly 60% of Americans view TikTok as a threat to national security, according to a survey by the Pew Research Center.

US Congress will not take up TikTok legislation before end of year: senator

Economic Times

Economic Times · 1y ago

US Congress will not take up TikTok legislation before end of year: senator

US Congress will not be taking up legislation this year to address national security concerns regarding foreign-owned apps like TikTok, according to Senator Maria Cantwell. Efforts to address these concerns have stalled in Congress, despite ongoing talks with federal agencies. TikTok, with its 150 million U.S. users, denies any improper use of U.S. data.

Trump says it could be worth keeping TikTok in US for a little while

Economic Times

Economic Times · 8m ago

Trump says it could be worth keeping TikTok in US for a little while

President-elect Donald Trump expressed his support for allowing TikTok to continue operating in the United States, citing the billions of views he received on the platform during his campaign. The U.S. Senate previously passed a law requiring TikTok's Chinese parent company, ByteDance, to divest the app due to national security concerns. However, the Supreme Court will hear the case, and if no divestment occurs, TikTok could be banned in the U.S. on January 19. Trump's comments indicate his opposition to TikTok's potential exit from the market, though it is unclear how he plans to undo the divestiture order.

Donald Trump says he will extend TikTok deadline for 75 days

Economic Times

Economic Times · 4m ago

Donald Trump says he will extend TikTok deadline for 75 days

President Donald Trump extended the deadline by 75 days for ByteDance to sell U.S. assets of TikTok to a non-Chinese buyer to avoid a ban. Trump's administration is in talks with multiple groups regarding a potential deal. Plans involve creating a U.S. TikTok entity, reducing Chinese ownership below 20%, and discussions involve entities like Susquehanna International Group and General Atlantic. Walmart is also interested. Chinese government approval remains a key obstacle.

TikTok, ByteDance sue to block US law seeking sale or ban of app

Economic Times

Economic Times · 1y ago

TikTok, ByteDance sue to block US law seeking sale or ban of app

TikTok and parent company ByteDance have filed a lawsuit in the US federal court to block a law signed by President Biden that requires the divestment of the app or a ban on its use. The companies argue that the law violates the US Constitution's free speech protections and that divestiture is not possible. The law was passed due to concerns about data privacy and security amid fears that China could access information on American users. The lawsuit contends that TikTok has implemented measures to protect user data and offers a shutdown option to the US government if necessary.

Oracle, Apple, Google diverge on whether to keep serving TikTok

Economic Times

Economic Times · 7m ago

Oracle, Apple, Google diverge on whether to keep serving TikTok

Apple, Google, and Oracle have diverged in their responses to the US government’s national security concerns regarding TikTok. Oracle continues its cloud services for TikTok, benefiting from a longstanding business relationship, while Apple and Google removed TikTok from their app stores, citing legal risks. Oracle's close ties with Trump and significant revenue from TikTok influence its decision. Meanwhile, ByteDance, TikTok’s parent company, faces uncertainty over its future in the US, pending divestiture demands.

TikTok tells staff that strategy stays the same after House vote

Livemint

Livemint · 1y ago

TikTok tells staff that strategy stays the same after House vote

TikTok has informed its employees that it will not be changing its approach to protecting user data, despite a recent bill passed by US lawmakers to ban the app unless it is sold by its Chinese owner. In a memo reviewed by Bloomberg, the company expressed its belief that transparent, US-based protection of user data is the best way to address concerns about national security. TikTok plans to lobby the Senate against passing the legislation and will pursue legal challenges before considering any divestiture. The bill faces an uncertain future in the Senate.

Elon Musk sides with Trump after he speaks out against TikTok ban

Business Insider

Business Insider · 1y ago

Elon Musk sides with Trump after he speaks out against TikTok ban

Elon Musk has supported former President Donald Trump's defense of TikTok and criticized Facebook and Mark Zuckerberg. Trump voiced opposition to a potential TikTok ban, claiming that it would benefit Facebook. Musk, owner of social media site X, agreed with Trump's statement and criticized potential bans on TikTok. Musk's comments came in response to a post by Senator Rand Paul, who also defended TikTok and argued for the protection of the First Amendment. A bipartisan bill has been introduced that could result in a ban on TikTok in the US due to concerns about its ties to China.

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