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The Commerce Department says, starting Sunday, neither app can be downloaded or updated in the U.S.
The wildly popular app relies on algorithm-based customizing that’s helped glue users to their screens.
“The threats that get you are the substitution threats,” Netflix’s co-founder and CEO said.
China updated its export rules in a way that could delay the sale of TikTok.
It’s a tactic to buy more time against the president’s impending ban on the app.
President Trump’s executive order restricts Chinese tech platforms. Correspondent Jennifer Pak discusses the future of competition in developing markets.
These orders mean that in 45 days, transactions with WeChat or TikTok from American persons or companies would be banned.
The rationale is that the U.S. needs “clean networks” to guard Americans’ data and the secrets of U.S. companies.
The Committee on Foreign Investment in the United States screens deals for national security risks.
The Committee on Foreign Investment in the United States, or CFIUS, has grown in influence over the years.