TikTok has approximately 80 million active daily users in the states and has a valuation estimated to be somewhere between $50 billion-$100 billion.
The owners of TikTok - the video-sharing social media app that has taken the internet by storm in 2020 - have offered to forgo their USA stake in the company to avoid a ban in the United States, as reported by Reuters. "Based on numerous reports, we are extremely concerned that Zoom and TikTok have disclosed private information about Americans to the PRC (People's Republic of China) and engaged in censorship on behalf of the Chinese government", the senators said.
The powerful Committee on Foreign Investment in the United States, or CFIUS, has been examining ByteDance's 2017 purchase of Musical.ly, an app that morphed to become TikTok.
Media reports circulated earlier Friday saying that Trump would require the USA operations of the app be divested from its Chinese parent firm ByteDance, but the president announced a ban.
Aboard Air Force One on Friday night, Trump doubled down on his threat, telling reporters a TikTok ban was fast approaching and would be imposed by executive order or emergency economic powers. TikTok has vocally denied claims of election "meddling" and user data theft, pointing out that the service is not a "go-to app to follow political news", and emphasizing that all "TikTok US user data is stored in the US, with strict controls on employee access".
ByteDance, Microsoft and the U.S. Treasury Department, which chairs the government panel that has been reviewing ByteDance's ownership of TikTok, declined to comment.
TikTok's fun, goofy videos and ease of use has made it immensely popular, and U.S. tech giants like Facebook and Snapchat see it as a competitive threat.
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The person spoke to The Associated Press on condition of anonymity Wednesday because the test results were not announced. The hope, weather permitting, was for the Jupiter site to resume practicing this weekend.
"It looks like ByteDance may be getting squeezed by Beijing, so making them divest makes sense", Lewis said.
India has banned as many as 106 Chinese apps, including TikTok, a move welcomed by both the Trump administration and the United States lawmakers.
Pappas dismissed privacy concerns in her statement, saying that "when it comes to safety and security, we're building the safety app because we know it's the right thing to do".
Trump said yesterday that he would take action as soon as today to ban TikTok in the United States. Recent reports show that the USA has commenced a comprehensive containment of Chinese technology companies. And we are so proud of all the various communities that call TikTok their home.
Off the back of TikTok's incredible popularity came a new wave of celebrities, who have amassed millions of followers from the videos they have created.
Per pool, Trump said, "Well, I have that authority".