“We see a 3-6 month period ahead for ByteDance and TikTok to work out a sale to a U.S. tech player,” Wedbush analyst Dan Ives wrote. “If ByteDance fights against this forced sale, TikTok will likely be banned in the U.S. by late 2023.”
, according to some analysts. During the hearing, American politicians expressed frustration over what they saw as evasive and unconvincing answers about China’s influence over TikTok — and the communist regime’s ability to track user data — as well as its efforts to curb misinformation and harmful content, particularly in relation to children who use the app.
But Chew’s testimony was “a disaster moment that will likely catalyze more calls by lawmakers and the White House to look to ban TikTok within the U.S.,” in the event that Beijing-based ByteDance does not sell its stake in the app, Wedbush analyst Dan Ives wrote in a research note Thursday. Chew “ultimately walks away with many questions unanswered” about TikTok’s relationship with the Chinese government, Ives added, with the future of TikTok “now in the hands of CFIUS with the next poker move.
over national-security concerns given TikTok’s Chinese ownership. China’s commerce ministry on Thursday said the country would “firmly oppose” any forced sale of TikTok because it would “seriously undermine the confidence of investors from various countries, including China, to invest in the United States.”
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