TikTok Scrambles To Portray Its Value To The American Economy Amid Possible Ban

The news about TikTok being one step closer to getting restricted in America is no longer an infatuation.

American lawmakers have passed their vote in favor of the TikTok bill at the House of Representatives and now, we’re just one step closer to seeing that come into play, provided the Senate feels the same way.

But if you think the wildly popular app plans to just sit there and not do anything, think again. The company is scrambling to garner support in the eyes of Americans as it shows how significant of a role it has in the US economy.

As per new reports rolled out by Oxford Economics, the app was responsible for generating a whopping $24 billion in 2023 alone. And that’s quite a staggering figure to consider when you have senators waiting to have you barred.

TikTok hopes such tactics would swing the vote in its favor and say no to the ban.

The company shed light on this matter in detail by adding how there’s evidence on this front as per the research carried out last year during the summertime. Both small and large firms advertised this platform and produced a whopping $15 billion in revenue since 2023.

Small businesses operating in the US also rolled out a mighty value across free services given by the app, giving them the chance to grow more organically. And that is what gave rise to a bigger GPD in the US.

The report similarly highlights how plenty of small organizations feel TikTok is quintessential for their proper existence in today’s world. More than 224k jobs received support from small-scale businesses via TikTok as it transformed into an app with great growth and means to expand with time.

This certainly places a massive amount of context on the app’s selling points as a crucial part of the US economy when the vote is passed in the Senate. But the figures used so far seem to be linked to avoiding the ban. We must not forget how the goal of the Senate is not to ban the platform but to make sure it’s not under the ownership of China and therefore is sold to America so that it has full ownership and not ByteDance.

The matter is all about relieving the concerns of political influence linked to foreign adversaries and what toll it would have on the American public. And that is certainly the main focal point here.

For so long, China has been accused of trying to grab a hold of the app and making sure data belonging to Americans is shared with Chinese government officials, The US called it a matter of serious threat to the nation’s national security.

But it’s not just TikTok we’re referring to here. The US has put safeguards on other Chinese-based platforms working in the country like Dragonbridge for AdSense and YouTube.

The grand scale through which China has influenced the American youth and older generations through the world of social media is certainly massive and we can see why the concerns have been there for so long.

It seems to be a serious delivery tool that’s curated to sway people’s opinions regarding issues linked to China. We do feel the concerns are valid and while it’s not something that China agrees with, the threat exists and now the repercussions might need to be dealt with.

But China vows to fight back and not give up too soon. Reports are speaking about how the CCP plans to oppose American moves against this platform.

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