TikTok's US Ban Risk: An Expansion Force to Southeast Asia's Market

By Editorial Team 15/03/2024
TikTok
Summary

The US House of Representatives passed a bill requiring ByteDance, the owner of TikTok, to sell the platform or face a total ban in America. ByteDance has a six-month ultimatum to divest its controlling stake in TikTok, or it will lose its 150 million users in the States. "This is a critical national security issue. The Senate must take this up and pass it," House majority leader Steve Scalise said on X, formerly known as Twitter.

President Joe Biden has already said he'd sign the bill into law if it passes through the Senate. After its passage in the House, TikTok CEO Shou Zi Chew said the bill would take "billions of dollars out of the pockets of creators and small businesses." "It will also put more than 300,000 American jobs at risk, and it will take away your TikTok," Chew said in a video posted on TikTok and X.

Register now and get free access.

If you want to get free access to our Daily Insights and Weekly Digest, please click "Sign up" button below. If you already have an account, please login.

Sign up
Log in
What do subscribers receive?

As a subscriber, you'll receive daily insights, weekly business digests, and quarterly industrial reports.

What kind of pieces will i get?

In-depth reports on assumption and impact analysis, as well as update and trends mapping, written by our credible and experienced analysts.

And, there is something else…

Register now and get free access, click here to register. Feel free to contact us with any additional questions you have.