TikTok faces the risk of ceasing operations in the US

TikTok will have to stop operating in the US if China does not approve the deal to sell this short video sharing app owned by ByteDance and used by about 170 million Americans.

On July 24, US Commerce Secretary Howard Lutnick said TikTok would have to stop operating in the US if China does not approve the deal to sell the short video sharing app, owned by ByteDance and 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.

However, the US will essentially have to own the technology and control the algorithm that runs this 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 US, despite a 2024 law requiring 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 US operations into a new company, majority owned and operated by US 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./.

(TTXVN/Vietnam+)

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