TBA Law Blog


Posted by: Stacey Shrader Joslin on Aug 7, 2020

President Donald Trump yesterday invoked emergency economic powers to impose broad sanctions against TikTok, a move that increases pressure on the Chinese-owned app to sell its U.S. assets to an American company, National Public Radio reports. The order, which takes effect in 45 days, prohibits any transactions between TikTok's parent company, ByteDance, and U.S. citizens. Security officials have warned that TikTok captures vast amounts of information from its users and could share that information with Chinese authorities. Also yesterday, Trump signed a similar order restricting business between China-based Tencent Holdings and U.S. citizens. Tencent owns WeChat, an all-in-one app used for messaging, social media and mobile payments.