TikTok says U.S. ban inevitable without court order blocking law [Globe and Mail, The (Toronto, Canada)]
TENCENT HLDGS UNSP/ADR (TCEHY)
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Source: Globe and Mail, The
Further, it says the law unfairly singles out TikTok for punitive treatment and “ignores many applications with substantial operations in China that collect large amounts of U.S. user data, as well as the many U.S. companies that develop software and employ engineers in China.” ByteDance recounted lengthy negotiations between the company and the U.S. government that it says abruptly ended in August 2022. The company also made public a redacted version of a 100-plus page draft national security agreement to protect U.S. TikTok user data and says it has spent more than $2 billion on the effort. The draft agreement included giving the U.S. government a “kill switch” to suspend TikTok in the United States at the government's sole discretion if the company did not comply with the agreement and says the U.S. demanded that TikTok's source code be moved out of China. “This administration has determined that it prefers to try to shut down TikTok in the United States and eliminate a plat
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