Wednesday morning, President Joe Biden signed into law a bill forcing TikTok to divest from its parent company or face a ban.“Congress has passed my legislation to strengthen our national security and send a message to the world about the power of American leadership: we stand resolutely for democracy and freedom, and against tyranny and oppression,” Biden said,
Now, TikTok’s parent company, ByteDance, has the same option it did years ago when then-President Donald Trump threatened to ban the app: sell or leave the U.S., ByteDance would have up to 12 months to divest TikTok before the app faces a ban in the U.S. across app stores and web hosting services, stemming from a nine-month deadline with a possible three-month extension “if a sale is in progress.” That’s double the original six-month grace period allotted.
The TikTok ultimatum was included in a significant foreign aid package that also sends resources to Israel, Taiwan, and Ukraine, which likely bolstered its passage. After all, it’s one thing to vote against a bill regarding the sale or banning of an app and another to hold up foreign aid packages., a deal with Oracle came together. However, that never went through after the Biden administration took over, and the need to sell seemed, for a time, a non-issue.
It is unclear if the Chinese company would pursue a sale again if its planned legal defense fails, but it seems that the company would be unlikely to exit the lucrative U.S. market without exercising every possible option.Biden Gives Agencies 30 Days to Ban TikTok, China Calls US ‘Insecure’
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