Biden signs TikTok ‘ban’ bill into law, starting the clock for ByteDance to divest it
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President Joe Biden signed a foreign aid package that includes a bill that would ban TikTok if China-based parent company ByteDance fails to divest the app within a year.
The divest-or-ban bill is now law, starting the clock for ByteDance to make its move. The company has an initial nine months to sort out a deal, though the president could extend that another three months if he sees progress.
While just recently the legislation seemed like it would stall out in the Senate after being passed as a standalone bill in the House, political maneuvering helped usher it through to Biden’s desk. The House packaged the TikTok bill — which upped the timeline for divestment from the six months allowed in the earlier version — with foreign aid to US...