TikTok has found itself at the center of a heated controversy, as the House of Representatives recently passed a bill that could potentially lead to a complete ban of the app in the United States. To discuss the implications of this move and what it means moving forward, China Beige Book International Managing Director Shehzad Qazi and Freshfields CFIUS & National Security Advisor Colin Costello, joins Yahoo Finance Live.
Qazi acknowledges that the House was "very clear" in their intent to pass this bill. However, he notes that with a Senate vote on the bill still looming, its fate remains "up in the air," suggesting that the bill has a chance to "just die in the Senate."
Costello identifies three variables that the government uses to "understand national security risks:" threat, vulnerability, and consequence. He explains that in TikTok's case, the threat stems from ByteDance, the foreign parent company. The vulnerability lies with TikTok's US segment, which could be "susceptible to exploitation by a foreign adversary." The consequence would be the potential exploitation of millions of US users' data on TikTok.
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