Public company filings or official announcements from ByteDance

Mike Johnson: U.S. to Enforce TikTok Ban Law After Supreme Court Ruling, TikTok Shuts Down in U.S.

Jan 19, 2025, 06:49 PM

House Speaker Mike Johnson has announced that the United States will enforce the law requiring TikTok, owned by Chinese company ByteDance, to either fully divest from its U.S. operations or face a ban. Johnson emphasized that the law mandates a complete divestiture from the Chinese Communist Party, rejecting proposals for partial sales, such as the 50% divestiture suggested by President Donald Trump. The TikTok ban law, passed by Congress last year, was upheld by the Supreme Court earlier this month, which had set a 270-day timeline for compliance. ByteDance had challenged the law, arguing it violated the First Amendment, but the court ruled unanimously in favor of the ban, citing national security concerns. TikTok voluntarily shut down its platform in the U.S. on January 19, just before the law took effect. Johnson also addressed Trump's recent 'Save TikTok' post and plans for an executive order to extend the compliance timeline, stating that the enforcement of this law is critical to addressing data privacy and security risks posed by the Chinese Communist Party.