TikTok faces the risk of being shut down in the US

On July 24, US Commerce Secretary Howard Lutnick said TikTok would have to stop operating in the US if China did not approve the deal to sell the short video sharing app, which is owned by ByteDance and is used by about 170 million Americans.

Speaking on CNBC, Minister Lutnick emphasized that China could hold a small part or ByteDance could retain a small part of TikTok.

But essentially, the US would have to own the technology and control the algorithm that runs the social media platform. If China accepts, the deal will be signed. If not, TikTok will have to stop operating in the US.

TikTok has not yet commented on the above information.

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

A deal was prepared this spring that would spin off TikTok’s U.S. operations into a new company, majority owned and operated by U.S. investors.

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

(Vietnam News Agency/Vietnam+)

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