Supreme Court Orders TikTok Divestment from ByteDance

The Supreme Court has ruled that TikTok must divest from its Chinese parent company, ByteDance, due to national security concerns regarding data collection and ties to China. As per legislation enacted last year, TikTok has nine months to comply or face removal from U.S. app stores, with a complete shutdown expected if a sale does not occur. Reports indicate that President Biden may not enforce the ban set for Sunday, leaving the decision to President-elect Donald Trump, who has shown support for the app and could potentially reverse the ban. Meanwhile, TikTok has initiated last-minute efforts to lobby Congress for more time, with Senate Democratic leader Chuck Schumer advocating for a 90-day extension. The situation remains fluid as the Supreme Court's decision on the law is anticipated soon, which may impact the fate of the app in the U.S. market.