Reported 2 days ago
President Trump is attempting a TikTok rescue that might not fulfill the legal requirement for divestiture from its Chinese parent company, ByteDance. A law enacted last year allows the president to assess compliance with divestiture mandates, potentially sidestepping legal challenges. The deal under discussion aims to lower Chinese ownership to below 20% and involves Oracle managing American data, but concerns persist over Chinese influence. Legal experts suggest that while rivals like Meta may be unhappy with the situation, challenging the deal's legality could be difficult due to limitations on legal standing. With a supportive GOP Congress, any amendments to enforcement are seen as unlikely.
Source: YAHOO