3 chapters across the catalog
Former Treasury Secretary Steve Mnuchin announced on CNBC that he is assembling an investor group to acquire TikTok. Mnuchin argues the app should be owned by U.S. businesses and rebuilt with domestic technology to ensure security. He emphasizes that the purchase should avoid big tech companies to prevent antitrust issues.
FCC Commissioner Brandon Carr has called for the Committee on Foreign Investment in the U.S. (CFIUS) to ban TikTok due to national security concerns regarding data management by ByteDance. CFIUS, a division of the Treasury Department, is currently in talks with the company to determine if it should be divested to a U.S.-based firm. The hosts note the irony of similar proposals made during the Trump administration being met with opposition.
CFIUS, Restricting Chinese Investment in US Tech
The White House is utilizing the Committee on Foreign Investment in the United States (CFIUS) to restrict Chinese acquisitions of American technology companies. Recent blocked deals include Broadcom's attempt to buy Qualcomm and Lattice Semiconductor. Experts warn that China often uses joint ventures to force the transfer of intellectual property, effectively creating state-backed competitors to American firms.
