TikTok Ban Passed by the House. 2 "Magnificent Seven" Stocks That Could Benefit
The TikTok ban took another step toward becoming a reality on Tuesday as the Senate pushed a foreign aid package forward. The package includes a stipulation that could ban TikTok if ByteDance, its Chinese owner, doesn't divest it in a year. The House has already passed the bill, and President Biden signed it on Wednesday.
TikTok has been a lightning rod for controversy among legislators amid a tech cold war with China that has led the U.S. to block exports of advanced semiconductors and semiconductor equipment to China.
Some lawmakers believe that TikTok is sharing user data with Beijing and that it can be used as a vehicle for Chinese propaganda, though ByteDance has denied those allegations.
Source Fool.com
