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The countdown for TikTok is on, and it seems like time is running out. In an interview with CNBC, U.S. Commerce Secretary Howard Lutnick discussed the impending TikTok deal with China, which is currently awaiting Chinese approval. Lutnick emphasized the importance of Americans having control over the technology and algorithm, stating that if the deal is not approved by China, TikTok will cease to exist.
The TikTok saga has been ongoing for years, with President Trump initially proposing a ban on the app in 2020. The app was eventually banned in 2024 under the PAFACA act signed by President Biden, although enforcement of the ban was repeatedly delayed. Trump later backtracked on the ban, instead aiming to strike a deal where the majority of TikTok would be owned by U.S. investors.
The fate of TikTok now hangs in the balance, with the U.S. administration growing impatient for a decision from China. The clock is ticking, and the future of the popular app remains uncertain.
