Citing national security, the Supreme Court rules that TikTok can be banned if its Chinese parent company ByteDance does not sell the app by Sunday.
The clock is ticking down on TikTok in America. A law that requires TikTok to find a new, non-Chinese owner or face a ban is scheduled to go into effect Sunday — and there is little indication the company is set to pull off a sale before then.
STORY: The U.S. Supreme Court refused to rescue TikTok on Friday from a law that required the popular short-video app to be sold by its Chinese parent company ByteDance or face a ban on Sunday in the United States on national security grounds.
The Supreme Court’s ruling represents the end of TikTok’s legal fight for survival. Its faint hopes now rest on a political solution. Donald Trump, who is due to become president on January 20th, the day after TikTok’s banishment,
The popular platform could be banned on Jan. 19 under a federal law, while many parties have expressed interest in buying the asset.
An approaching TikTok ban will impact millions of people who rely on the app for their livelihood. On Friday, the Supreme Court upheld the federal law banning TikTok unless it’s sold by its China-based parent company, as reported by The Associated Press (AP).
Wedbush analysts expect the Trump administration to delay the imminent TikTok ban, despite an anticipated Supreme Court ruling upholding the prohibition. The ban
Tesla ( TSLA) stock jumped more than 6% Friday amid speculation that CEO Elon Musk could potentially buy TikTok. The social media platform needs to find an American buyer, or it will effectively face a countrywide ban starting next week — and Musk is reportedly the most likely candidate.
Several parties have expressed interest in buying the platform, but ByteDance has repeatedly said it does not plan to sell. Experts have also noted the Chinese government is unlikely to approve a sale that includes TikTok's coveted algorithm.
The app’s availability in the U.S. has been thrown into jeopardy over data privacy and national security concerns.
Many TikTok users and social media influencers appeared distraught after the news that the popular app would be banned on Sunday, Jan. 19.