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Why Pompeo Says The US Could Ban TikTok

Benzinga logo Benzinga 7/7/2020 Tanzeel Akhtar
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The U.S. is “looking at” banning the short-form mobile video TikTok and other Chinese social media apps, Secretary of State Mike Pompeo told Fox News in a Monday interview. 

What Happened: TikTok, a short-form video app owned by China-based ByteDance, has generated privacy concerns. 

Pompeo said in an interview that he is taking the reports seriously after India banned the app. Australia is considering doing the same. 

Why It's Important: Pompeo warned Americans that they should be cautious when using TikTok unless they want private information in the hands of the Chinese Communist Party.

The moves could also be a positive for Snap Inc's (NYSE: SNAP) Snapchat and Facebook Inc's (NASDAQ: FB) Instagram.

TikTok Quits Hong Kong: On Monday evening, TikTok said it will quit Hong Kong after China imposed a new security law on the city.

A TikTok spokesperson told the BBC that "in light of recent events, we've decided to stop operations of the TikTok app in Hong Kong.”

Reuters reports that TikTok's exit from the city will come "within days."

Hong Kong has been undergoing major changes with the introduction of a controversial national security law that has given Chinese authorities new powers and also raises concerns about data privacy.

Related Links:

Facebook Expands 'Instagram Reels' To India After Country Bans TikTok

China Targets Hong Kong's Autonomy After Pro-Democracy Uprising

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