CFIUS Tells ByteDance to Sell Stake in TikTok, Report Says
The Committee on Foreign Investment in the U.S. is “demanding” that TikTok’s owner, China-based ByteDance, sell its shares in the app or face a potential U.S. ban of the app, The Wall Street Journal reported March 15. The CFIUS demand,…
Sign up for a free preview to unlock the rest of this article
If your job depends on informed compliance, you need International Trade Today. Delivered every business day and available any time online, only International Trade Today helps you stay current on the increasingly complex international trade regulatory environment.
which the report said came “recently,” is a major shift in policy for the Biden administration, which has been reviewing TikTok for months (see 2209260008). It also comes amid pressure from Congress to quickly conclude the review with strong restrictions between the app and ByteDance (see 2302220024). The Treasury Department didn’t comment.