Money Makers Mentor

TikTok Sale Halted by U.S. President Joe Biden

President Joe Biden has stopped the sale of popular Beijing-owned social media app TikTok to tech company Oracle and Walmart. The Justice Department announced in a court filing on Wednesday Feb. 10 that the Biden administration is backing away from the previous administration’s ban. The move indefinitely pushes back former President Trump’s efforts to investigate potential security risks involving Chinese tech companies.

The Biden Administration’s Plan

Press Secretary Jen Psaki told reporters at a White House briefing on Wednesday Feb. 10 that the Biden administration had not taken any more action regarding the TikTok deal. “It’s not accurate to suggest that there is a new proactive step by the Biden White House,” Psaki said. “There is a rigorous CFIUS process that is ongoing.” How…

Leave A Reply

Your email address will not be published.