President Trump set to ban TikTok in USA

President Trump set to ban TikTok in USA

President Donald Trump told reporters on Air Force One tonight that he plans to ban Chinese-owned TikTok from the United States of America. Also, he does not plan to allow a U.S,-based company to buy TikTok from ByteDance, the Chinese company that owns the platform.

Recently, Microsoft was said to be in talks to buy TikTok from ByteDance, which is currently valued at around $100 billion while TikTok’s price tag is reportedly $50 billion. Venture capital firms, Sequoia and General Atlantic, investors in ByteDance, are also said to be interested. Those talks would now be in jeopardy.

TikTok is a massive global hit. The app had roughly 700 million downloads in 2019, and was growing even faster in the USA despite the coronavirus pandemic.

As part of a border dispute that turned violent, India banned TikTok in late June, causing the app to immediately lose 200 million users.

There is political overtones to the proposed USA ban. Trump and his Secretary of State Mike Pompeo floated the potential ban in early June, with Fox News reporting Trump as saying: “the ban would be one of many options to punish China for its coronavirus response.” The other possibility is that TikTok users may have helped sabotage Trump’s Tulsa, Oklahoma sparsely-attended rally in June. TikTok users reportedly reserved seats without any intention of actually going, and the rally only had 6,200 out of 19,000 seats filled.

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