Overview

• Under a law enacted in 2024, ByteDance must divest TikTok’s U.S. operations by Sept. 17 or the app will be banned from American distribution.
• Lutnick said Americans must own the technology and control the algorithm to safeguard user data and meet national security requirements.
• Private equity firm Blackstone has exited the bidding consortium and no buyers have been publicly confirmed despite President Trump’s remarks about wealthy investors.
• Congress passed the divest-or-ban law with overwhelming bipartisan support over concerns that Chinese ownership could grant Beijing access to user data or influence content.
• Lutnick indicated unresolved TikTok sale talks may surface in upcoming U.S.-China trade negotiations where Beijing’s regulatory approval remains pivotal.