US lawmakers say TikTok won’t be banned if it finds a new owner. But that’s easier said than done
By Matt O’Brien, Associated Press
U.S. lawmakers are threatening to ban TikTok but also say they are giving its Chinese parent company a chance to keep it running.
The premise of a bipartisan bill passed by the U.S. House of Representatives on Wednesday is that TikTok fans in the U.S. can keep scrolling through their favorite social media app so long as Beijing-based ByteDance gives up on owning it.
“It doesn’t have to be this painful for ByteDance,” U.S. Rep. Raja Krishnamoorthi, an Illinois Democrat and bill co-sponsor, recently posted on X. “They could make it a lot easier on themselves by simply divesting @tiktok_us. It’s their choice.”
But it’s not going to be as simple as lawmakers are making it sound, according to experts.
WHO WOULD BUY TIKTOK?
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.
“Somebody would have to actually be ready to shell out the large amount of money that this product and system is worth,” said Stanford University researcher Graham Webster, who studies Chinese technology policy and U.S.-China relations. “But even if somebody has deep enough pockets and is ready to go into negotiating to purchase, this sort of matchmaking on acquisitions is not quick.”