
On Thursday, Commerce Secretary Howard Lutnick issued a stark warning regarding TikTok's future in the United States. He stated that the app would become inaccessible to American users unless China agrees to relinquish some control over the popular platform. Speaking on CNBC's "Squawk on the Street," Lutnick emphasized, "You can't have Chinese control and have something on 100 million American phones." The uncertainty surrounding TikTok in the U.S. has been mounting since 2024 when Congress enacted legislation that would prohibit the app unless its Chinese parent company, ByteDance, divested its ownership. This move stemmed from growing concerns among lawmakers about potential Chinese government access to sensitive data of American users, as well as the risk of content manipulation on the platform. Discussions regarding a potential deal have been ongoing, with President Donald Trump recently extending the deadline for the third time since taking office in January. Currently, ByteDance has until September 17 to offload TikTok's American operations. Lutnick reassured that if the deal goes through, "Americans will have control. Americans will own the technology. Americans will control the algorithm. That's something Donald Trump is willing to do." However, Lutnick cautioned that without China's approval, TikTok would cease operations in the U.S. The status of negotiations remains unclear. In a recent interview, Trump mentioned that he has a group of "very wealthy people" prepared to purchase the platform. Complicating matters, private equity firm Blackstone has reportedly withdrawn from a consortium bid for TikTok's American business, as reported by Reuters.
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