Financial Times has just reported that the White House is debating banning popular social media app TikTok on the base of the Chinese stealing users data. One idea is to essentially put Bytedance (TikTok parent company) on a list that would make it hard for US companies to provide technology to Bytedance. For example Google and Apple would not be allowed to list TikTok on their app stores.
This was done last year with another Chinese company, Huawei. The difference here is there wasn’t tens of millions of people using “Matebooks” (Huawei’s laptops) on a daily basis.
Donny and the boys are also considering invoking the 1977 International Emergency Economic Powers Act which would deem TikTok as a “unusual and extraordinary threat” to United States security. Twitter and Facebook stocks have not popped yet as they did upon the original rumors, but it’s something to certainly keep an eye on.