30.4 C
New York
Wednesday, July 28, 2021

What’s the real impact of Trump’s action against TikTok?

Must read

U.S. Justice Dept won’t defend Republican lawmaker in Capitol riot lawsuit

Politics17 minutes ago (Jul 27, 2021 09:26PM ET) (C) Reuters. FILE PHOTO: U.S. Rep. Mo Brooks (R-AL) makes an announcement in Huntsville, Alabama, U.S. March...

Gold price today at Rs 46,660 per 10 gm, silver trending at Rs 67,100 a kg

The price of 24-carat gold also declined by Rs 210 to stand at Rs 47,660 per 10 gm ...

Lucro da CSN dispara 1.338,6% no 2º trimestre, para R$ 4,96 bilhões

A CSN registrou lucro atribuído aos controladores de R$ 4,96 bilhões no segundo trimestre deste ano, o que representa alta de 1.338,6%...

MPF: Funai não deve autorizar obras em terra indígena sem consulta ao povo Parakanã

O Ministério Público Federal (MPF) afirmou que a Fundação Nacional do Índio (Funai) e a prefeitura de São Félix do Xingu não...
imageStock Markets7 minutes ago (Sep 18, 2020 03:35PM ET)

(C) Reuters. U.S. President Donald Trump holds a campaign event at the Central Wisconsin Airport in Mosinee, Wisconsin

WASHINGTON (Reuters) – The Trump administration will ban video-sharing app TikTok from U.S. app stores starting Sunday night, a move that will block Americans from downloading or updating the Chinese-owned platform over concerns it poses a national security threat.

Below are questions and answers on what this means for users, the political implications and how this will impact the companies involved.

WILL CURRENT TIKTOK USERS SEE AN IMMEDIATE IMPACT?

Initially, not much. They will not be able to download updates and may miss new features and fixes. But on Nov. 12, the app could become slower or harder to use because American companies will be barred from providing back-end hosting services that help the app function smoothly. TikTok said in a statement Friday those changes would amount to a “ban.”

HOW WILL NEW TIKTOK USERS BE AFFECTED?

Beginning Sunday, the app will no longer be available for download from app stores in the United States, greatly reducing the number of new U.S. users. Some may find workarounds, such as traveling to a foreign country to download the app or using a virtual private network, a U.S. official said. Users could also still sign up and watch videos via TikTok’s website, but they will not be able to post videos without the mobile application.

WHAT ARE THE POLITICAL IMPLICATIONS OF THE TIKTOK BAN?

TikTok will not see major changes until after the election, so the issue’s influence on the presidential race is unlikely to grow significantly. President Donald Trump could still be seen by some as defending U.S. interests by threatening to ban a Chinese app, and some may see him as avoiding a decision or arranging a deal for a political ally, in Oracle Chair Larry Ellison.

WHAT DOES THIS MEAN FOR ORACLE’S DEAL TO PARTNER WITH TIKTOK?

The ban will ramp up pressure on TikTok’s owner ByteDance and potential suitors including Oracle Corp (NYSE:ORCL) and Walmart (NYSE:WMT) to put together a deal that is agreeable to President Trump as soon as possible. If a deal is reached before Sunday, there is a chance new downloads will not be blocked and that TikTok can go about its business.

What’s the real impact of Trump’s action against TikTok?

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

- Advertisement -

Latest article

U.S. Justice Dept won’t defend Republican lawmaker in Capitol riot lawsuit

Politics17 minutes ago (Jul 27, 2021 09:26PM ET) (C) Reuters. FILE PHOTO: U.S. Rep. Mo Brooks (R-AL) makes an announcement in Huntsville, Alabama, U.S. March...

Gold price today at Rs 46,660 per 10 gm, silver trending at Rs 67,100 a kg

The price of 24-carat gold also declined by Rs 210 to stand at Rs 47,660 per 10 gm ...

Lucro da CSN dispara 1.338,6% no 2º trimestre, para R$ 4,96 bilhões

A CSN registrou lucro atribuído aos controladores de R$ 4,96 bilhões no segundo trimestre deste ano, o que representa alta de 1.338,6%...

MPF: Funai não deve autorizar obras em terra indígena sem consulta ao povo Parakanã

O Ministério Público Federal (MPF) afirmou que a Fundação Nacional do Índio (Funai) e a prefeitura de São Félix do Xingu não...

Regulamentação sobre lavagem de dinheiro é regulamentada pelo BC

Economia43 minutos atrás (27.07.2021 22:00) Agência Brasil - A legislação de prevenção à lavagem de dinheiro foi atualizada hoje (27) com uma resolução publicada pelo...