Monday 6th May 2024

    TradeBriefs Editorial

    From the Editor's Desk

    The TikTok ban is bigger than just ByteDance

    After years of trying, the U.S. has finally issued ByteDance with an ultimatum: Sell TikTok or the app will be banned. The bill passed Congress with overwhelming support on Tuesday as part of a broader foreign aid package, and was signed into law by President Biden on Wednesday morning. It’s the most extreme measure the U.S. has taken so far in its effort to insulate itself from Chinese influence — and while the immediate impact is focused on one company, the secondary effects are likely to be much broader.

    NBC News has a good rundown on the technical details of the ban, but for now, TikTok is pledging to challenge the bill. “We will keep fighting for your rights in the courts,” CEO Shou Zi Chew said in a TikTok after the bill was signed. “The facts and the Constitution are on our side.” 

    Continued here


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