Here’s a rewritten version of the article, focusing on uniqueness while preserving all verifiable facts and structuring it with a breaking-news lead and evergreen context:
Breaking: U.S. TikTok Ban Enforcement Delayed Amid Ownership Restructuring Efforts
A U.S. law set to take effect January 19, 2025, will prohibit American companies from hosting or distributing TikTok within the country, provided it remains under the control of its Chinese parent company, ByteDance. This legislation, which garnered notable bipartisan support in Congress last year, stems from concerns that the popular video app’s connections to china’s communist regime pose a national security risk.President Biden signed the bill into law.
evergreen context: A Complex Path to Compliance
The enforcement of this law has been subject to delays, with former President Trump issuing his third executive order on the matter last month, pushing the enforcement deadline to September 17. This extension is intended to allow his administration time to negotiate a deal that would restructure TikTok U.S.’s ownership in a manner that aligns with the law, while also securing approval from the Chinese government.
In a Fox News interview aired on june 29, Trump stated that his administration had identified a group of “very, very wealthy people” interested in acquiring TikTok’s U.S. operations. He expressed a belief that China’s approval would likely be necessary and that President Xi Jinping would probably grant it. Though, Trump did not disclose the identities of these potential buyers, stating at the time that he would reveal them in approximately two weeks. As of now, no such announcements have been made.
During the final months of his previous term, Trump attempted to ban TikTok unless its ownership was transferred to U.S. entities, an effort that was unsuccessful. Following the 2024 election, Trump has expressed a more favorable view of the app, suggesting that it may have contributed to his support among young voters.
ByteDance has previously stated that 60% of its ownership is held by global institutional investors,including BlackRock,General Atlantic,and Susquehanna. Its Chinese founders reportedly own 20%, with employees, including those in the United States, holding the remaining 20%. The U.S. divest-or-ban legislation specifically targets distribution of any app were companies or individuals located in a “foreign adversary” nation hold a direct or indirect stake of at least 20%.
In a congressional hearing in March 2023, TikTok CEO Shou Zi Chew asserted that ByteDance is not owned or controlled by the Chinese government. He also addressed what he described as an “inaccurate belief” that TikTok’s corporate structure makes it beholden to the Chinese government or that it shares U.S. user information with Beijing, stating emphatically that this is “emphatically untrue.”
