In 2024, the US Congress enacted a law mandating that TikTok's parent company, ByteDance, divest 80% of its U.S. operations to comply with regulations or face a ban. Despite the Supreme Court upholding this law, its effects were minimal, evidenced by only a brief blackout. President Trump extended TikTok's grace period multiple times while potential buyers, including Amazon, showed interest. A deal nearly solidified earlier this year but collapsed due to ongoing trade tensions. Current negotiations face urgency and must navigate approval from the Chinese government, complicating any potential sale.
Back in 2024, US Congress passed a law to ban TikTok unless parent company ByteDance divested most of its US-based operations with 80% going to companies headquartered in the US.
TikTok has become a bargaining chip in the US-China trade war, so any deal is in danger of falling through due to external factors.
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