25 April 2024
The Weekly
United States

President Joe Biden signed it into law Wednesday morning, capping a series of events that could see the social video app kicked out of the U.S. The app developer now has nine months to strike a deal with new owners and separate from its Chinese parent company, ByteDance. President Biden could allow three more months, if he sees progress. TikTok plans to challenge the new law on a free-speech basis. According to its statement to the press, the law would ‘trample’ the rights of the platform’s American user base, which includes 170mn people and 7mn businesses, as it channels $24bn a year to the U.S. economy. Many of the brands, marketers and influencers responsible for those billions are now left facing a sobering reality that one of their most valuable social media channels could vanish.