TikTok Denies Chinese Parent May Be Preparing to Divest App
TikTok last week denied a Reuters report that it's developing an operationally independent U.S. version of the social media application that Chinese parent company ByteDance could then sell to a non-Chinese owner.
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.
TikTok said it continues to maintain that it's “simply not possible” commercially, legally or technologically for ByteDance to divest the popular app, as required by a recently enacted U.S. law.
TikTok has asked the U.S. Court of Appeals for the District of Columbia Circuit to overturn the law, which followed a review by the Committee on Foreign Investment in the U.S. and which will ban the app in the U.S. if it's not sold to an entity that isn’t controlled by a foreign adversary (see 2405070049). A group of TikTok content creators also have sued, claiming the law violates their First Amendment rights (see 2405160065).