What's Next for TikTok? Platform Maps Out Strategies To Stop US Ban Efforts, Though Biden Says He's Ready To Sign Bill
Portfolio Pulse from Franca Quarneti
Legislation targeting TikTok's operations in the U.S. is advancing rapidly, with a bill that could force its sale or result in a ban passing the House Energy and Commerce Committee unanimously. President Biden has expressed readiness to sign the bill, while former President Trump opposes the ban, citing it would unfairly benefit Meta Platforms Inc.'s Facebook. TikTok, surprised by the bill's progress, is exploring strategies to prevent its passage, including legal challenges and lobbying senators. The company argues that separating its U.S. operations would compromise its global appeal.
March 11, 2024 | 11:10 pm
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Former President Trump opposes the TikTok ban, suggesting it would unfairly benefit Meta Platforms Inc.'s Facebook by eliminating a competitor. Trump's stance could influence public and political opinion, potentially affecting Meta's market position.
Trump's opposition to the TikTok ban, citing a potential benefit for Facebook, could sway public and political opinion. This might indirectly benefit Meta by reducing competition in the social media space, potentially leading to an increase in user engagement and advertising revenue for Facebook.
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