Last year, a law required the Chinese company ByteDance to sell a controlling stake in TikTok to American owners. In January, Trump extended the deadline for this requirement from January 19 to April 5, but recently stated that he might postpone the deadline again. Senators are proposing to extend the deadline until October.
Currently, the White House administration is considering a plan under which ByteDance’s largest non-Chinese investors would increase their stake and acquire TikTok’s American operations. This would prevent the app from being banned in the US.
TikTok is used by 170 million Americans, and its fate remains uncertain. Washington fears that China could use the platform to influence public opinion. Congress emphasizes that the process of transferring control over TikTok should be transparent and involve lawmakers.
