U.S. lawmakers say TikTok won't be banned if it finds a new owner

FILE – The icon for the video sharing TikTok app is seen on a smartphone, Feb. 28, 2023, in Marple Township, Pa. Montana became the first state in the U.S. to completely ban TikTok on Wednesday, May 17, 2023, when the state’s Republican governor signed a measure that’s more sweeping than any other state’s attempts to curtail the social media app. U.S. lawmakers are threatening to ban TikTok but also say they are giving its Chinese parent company a chance to keep it running.

While some people have voiced an interest in buying TikTok’s U.S. business — among them “Shark Tank” star Kevin O’Leary — there are a number of challenges including a 6-month deadline to get it done. “One of the main effects of the legislation would be to decrease the sale price,” said Matt Perault, director of the University of North Carolina’s Center on Technology Policy, which gets funding from TikTok and other tech companies. “As you approach that 180-day clock, the pressure on the company to sell or risk being banned entirely would be high, which would mean probably the acquirers could get it at a lower price.”The bill calls for prohibiting TikTok in the U.S.

It’s an unusual bill in the way that it targets a single company. Typically, a government group led by the Treasury secretary called the Committee on Foreign Investment in the United States, or CFIUS, will review whether such a sale would pose any national security threats.Yes. The Trump administration brokered a deal in 2020 that would have had U.S. corporations Oracle and Walmart take a large stake in TikTok on national security grounds.

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Montgomery Receives $36.6 Million to Improve Selma to Montgomery Historic TrailThe City of Montgomery has been awarded $36.6 million from the U.S. Department of Transportation to improve the Selma to Montgomery Historic Trail. The money will be used to develop a greenway trailhead and zero emission infrastructure along the trail.
Source: ALNewsNetwork - 🏆 583. / 51 Read more »

Montgomery receives $36 million to improve Selma to Montgomery Historic TrailThe U.S. Department of Transportation has awarded Montgomery over $36 million to improve areas of the Selma to Montgomery Historic Trail, Rep. Terri Sewell announced Monday. The funding comes from the DOT’s Neighborhood Access and Equity grant program. It will be used to develop a greenway trailhead and add ADA-accessible transportation options along the trail.
Source: wsfa12news - 🏆 338. / 59 Read more »

Montgomery Motor Speedway holding 60th annual ‘Hunt for the Bear’ Alabama 200 this weekendThe Alabama 200 is a race that has seen some of the biggest names in motorsports take home a victory. Richard Petty, Chase Elliott, Bobby Allison, and Red Farmer, just to name a few.
Source: wsfa12news - 🏆 338. / 59 Read more »

Alabama Poor People’s Campaign holds rally in downtown MontgomeryThe Alabama Poor People's Campaign held a rally in downtown Montgomery to help mobilize low-income voters.
Source: wsfa12news - 🏆 338. / 59 Read more »

VP and AG to attend Annual Bridge Crossing Jubilee in SelmaMontgomery, Alabama
Source: ALNewsNetwork - 🏆 583. / 51 Read more »

Friday rains impact outdoor events at Bridge Crossing JubileeMontgomery, Alabama
Source: ALNewsNetwork - 🏆 583. / 51 Read more »