TikTok faces the risk of ceasing operations in the US.

TikTok will have to cease operations in the US if China does not approve the sale of the short video-sharing app, which is owned by ByteDance and used by approximately 170 million Americans.

On July 24, US Commerce Secretary Howard Lutnick stated that TikTok would have to cease operations in the US if China did not approve a deal to sell the short -video sharing app, owned by ByteDance and used by approximately 170 million Americans.

Speaking on CNBC, Secretary Lutnick emphasized that China could hold a small stake or ByteDance could retain a small stake in TikTok.

However, essentially, the US would have to own the technology and control the algorithms that run this social media platform. If China agrees, the deal will be signed. Otherwise, TikTok would have to cease operations in the US.

TikTok has not yet commented on the above information.

President Donald Trump has issued three orders delaying the enforcement of a federal law requiring ByteDance to sell or shut down TikTok in the US, despite the 2024 law stipulating that the app must be sold or shut down by January 19 of this year if there is no significant progress.

An agreement was prepared this spring that would spin off TikTok's US operations into a new company, largely owned and operated by US investors.

However, the agreement stalled after Beijing decided not to approve it following President Trump's announcement of imposing high tariffs on Chinese goods.

(VNA/Vietnam+)

Source: https://www.vietnamplus.vn/tiktok-dung-truoc-nguy-co-dung-hoat-dong-tai-my-post1051737.vnp