The Chicago Entrepreneur

Marco Rubio introduces bill looking to ban TikTok in the U.S. over China ties

Sen. Marco Rubio, a Florida Republican, announced Tuesday that he had introduced a bill that would ban TikTok from operating in the United States. He said the bill was aimed at protecting the information of U.S. users given concerns about TikTok parent ByteDance’s requirements to share data with the Chinese government. “This isn’t about creative videos – this is about an app that is collecting data on tens of millions of American children and adults every day,” Rubio said in a press release. The release noted that Rep. Mike Gallager, a Wisconsin Republican, and Rep. Raja Krishnamoorthi, an Illinois Democrat, introduced bipartisan companion legislation in the House of Representatives. TikTok has seen surging popularity in the U.S., though it has been subject of political debate amid that rise. Former president Donald Trump sought to make TikTok sell its U.S. business, though a deal never took place, and President Joe Biden reportedly was interested in an executive order that would have limited TikTok’s ability to collect data.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Previous post Jim Cramer’s Investing Club meeting Tuesday: Inflation cools, stock trim, Eli Lilly
Next post The Ratings Game: Mastercard, Fiserv and more: These payments stocks dubbed favorites for 2023