TikTok is set to be banned in the U.S. following a Supreme Court decision requiring ByteDance, its Chinese parent company, to sell its U.S. operations by January 19th. Failure to do so will see TikTok removed from app stores, with current users losing functionality over time. This decision stems from ongoing national security concerns. The ban will significantly impact around 170 million American users and various businesses and creators relying on the platform. President-elect Donald Trump may address this issue post-inauguration, but bipartisan support for the law makes reversal unlikely. Affected users and businesses will need to migrate to other platforms such as Instagram, YouTube, or Amazon Live. Benzinga encourages followers to stay connected on other social media channels.
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00:00So it's official. TikTok is done in the U.S.
00:05The app you scroll for hours on, well, it's about to disappear completely here.
00:09Here's what happened, why and what's next.
00:11This Friday, the U.S. Supreme Court upheld a federal law requiring ByteDance,
00:16TikTok's Chinese parent company, to sell its U.S. operations by January 19th or face a full ban.
00:22This decision comes after years of national security concerns over user data and potential foreign influence.
00:28So what happens now by Sunday?
00:30Well, if ByteDance fails to sell TikTok's U.S. operations by that deadline,
00:34app stores will remove TikTok completely.
00:37Current users may still be able to use the app briefly, but without updates, it'll quickly lose functionality.
00:42This means millions of creators, businesses and fans will have to pivot fast.
00:47Some people online have been wondering about President-elect Donald Trump's opinion.
00:51Well, Trump has hinted at addressing the situation after his inauguration on January 20th.
00:56However, with bipartisan support for the law, even Trump may face challenges in reversing the decision.
01:01You also might be wondering how big of an effect this will actually have.
01:04Well, 170 million Americans use TikTok every month.
01:08And the platform has been a lifeline for small businesses, creators and brands.
01:12In 2023 alone, TikTok contributed $24.2 billion to the U.S. economy and supported over 224,000 jobs.
01:19A ban means these businesses will need to shift to platforms like Instagram, Redbook, YouTube or Amazon Live to stay afloat.
01:26As you can see, we do use TikTok, but where can you follow Benzinga after the ban?
01:30Well, while TikTok might be gone, Benzinga is everywhere.
01:34On Instagram, X, Facebook and YouTube, all under at Benzinga.
01:37Since the end of the app is here, make sure to follow Benzinga on all the other platforms mentioned on what happens next.
01:44Because this story might be far from over.