- A bill passed the U.S. Senate on Tuesday evening that would force the Chinese parent company of social media video application TikTok, ByteDance ( BDNCE ), to sell it or otherwise impose a ban in the United States.
- The vote was 79-18.
- As in the Chamber, which the measure was approved on April 20 it was attached to a larger package covering aid to Israel, Ukraine and Taiwan.
- President Biden expressed his support for the relief package and the TikTok measure, The Washington Post reported.
- Assuming Biden signs the legislation into law, ByteDance ( BDNCE ) would have 90 days to sell TikTok or the app would face a ban.
- Dear readers: We recognize that politics often intersect with the financial news of the day, so we invite you to click here to join the separate political discussion.