A bipartisan group of U.S. lawmakers is set to introduce legislation on Tuesday aimed at addressing national security concerns surrounding the Chinese-owned short video app TikTok. According to congressional aides, the proposed bill would give ByteDance, the parent company of TikTok, approximately six months to divest its popular platform or risk facing a ban in the United States.
Led by Representative Mike Gallagher, chair of the House select China committee, and Representative Raja Krishnamoorthi, the top Democrat on the committee, the legislation has garnered support from more than a dozen other lawmakers. The primary objective of the bill is to mitigate potential risks posed by Chinese ownership of TikTok, which boasts over 170 million users in the United States alone, reported Reuters.
Under the proposed legislation, ByteDance would be granted 165 days to divest TikTok. Failure to comply would render it unlawful for major app stores operated by tech giants like Apple and Google to offer TikTok or provide web hosting services to ByteDance-controlled applications.
Moreover, the bill would empower the president with new authority to designate apps deemed as security threats and impose bans or restrictions if divestiture does not occur.
Related: TikTok Updates Data Usage Regulations To Fit EU Laws
This move comes in response to mounting concerns over the security implications of TikTok’s ownership by a Chinese company. Efforts to address these concerns have gained momentum in Congress, with previous bills aimed at regulating or potentially banning TikTok stalling in legislative proceedings.
Last year, the White House expressed support for legislation sponsored by Senator Mark Warner and backed by over two dozen senators. The proposed legislation sought to provide the administration with enhanced powers to ban TikTok and other foreign-based technologies if they were deemed to pose national security threats.
With bipartisan backing, the latest legislative effort signals a renewed push to address the security risks associated with popular apps owned by foreign entities. As the debate unfolds in Congress, the fate of TikTok in the United States hangs in the balance, awaiting legislative action to determine its future.
Source: Reuters
Featured News
Big Tech Braces for Potential Changes Under a Second Trump Presidency
Nov 6, 2024 by
CPI
Trump’s Potential Shift in US Antitrust Policy Raises Questions for Big Tech and Mergers
Nov 6, 2024 by
CPI
EU Set to Fine Apple in First Major Enforcement of Digital Markets Act
Nov 5, 2024 by
CPI
Six Indicted in Federal Bid-Rigging Schemes Involving Government IT Contracts
Nov 5, 2024 by
CPI
Ireland Secures First €3 Billion Apple Tax Payment, Boosting Exchequer Funds
Nov 5, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Remedies Revisited
Oct 30, 2024 by
CPI
Fixing the Fix: Updating Policy on Merger Remedies
Oct 30, 2024 by
CPI
Methodology Matters: The 2017 FTC Remedies Study
Oct 30, 2024 by
CPI
U.S. v. AT&T: Five Lessons for Vertical Merger Enforcement
Oct 30, 2024 by
CPI
The Search for Antitrust Remedies in Tech Leads Beyond Antitrust
Oct 30, 2024 by
CPI