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
Electrolux Fined €44.5 Million in French Antitrust Case
Dec 19, 2024 by
CPI
Indian Antitrust Body Raids Alcohol Giants Amid Price Collusion Probe
Dec 19, 2024 by
CPI
Attorneys Seek $525 Million in Fees in NCAA Settlement Case
Dec 19, 2024 by
CPI
Italy’s Competition Watchdog Ends Investigation into Booking.com
Dec 19, 2024 by
CPI
Minnesota Judge Approves $2.4 Million Hormel Settlement in Antitrust Case
Dec 19, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – CRESSE Insights
Dec 19, 2024 by
CPI
Effective Interoperability in Mobile Ecosystems: EU Competition Law Versus Regulation
Dec 19, 2024 by
Giuseppe Colangelo
The Use of Empirical Evidence in Antitrust: Trends, Challenges, and a Path Forward
Dec 19, 2024 by
Eliana Garces
Some Empirical Evidence on the Role of Presumptions and Evidentiary Standards on Antitrust (Under)Enforcement: Is the EC’s New Communication on Art.102 in the Right Direction?
Dec 19, 2024 by
Yannis Katsoulacos
The EC’s Draft Guidelines on the Application of Article 102 TFEU: An Economic Perspective
Dec 19, 2024 by
Benoit Durand