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US lawmakers say TikTok won’t be banned if it finds a new owner. But that’s easier said than done
U.S. lawmakers are threatening to ban TikTok but also say they are giving its Chinese parent company a chance to keep it running.
The premise of a bipartisan bill headed for a vote in the U.S. House of Representatives is that TikTok fans in the U.S. can keep scrolling through their favorite social media app so long as Beijing-based ByteDance gives up on owning it. “One of the main effects of the legislation would be to decrease the sale price,” said Matt Perault, director of the University of North Carolina’s Center on Technology Policy, which gets funding from TikTok and other tech companies. Typically, a government group led by the Treasury secretary called the Committee on Foreign Investment in the United States, or CFIUS, will review whether such a sale would pose any national security threats.
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