President Biden signs law aiding allies and TikTok sale

US President Joe Biden has signed a new law aimed at providing aid to Israel, Ukraine, and Taiwan, while also requiring the Chinese parent company of TikTok, ByteDance, to sell the popular social media platform. The law, which comes after a six-month period of intense political debate in Capitol Hill, has finally been approved by Biden, marking a significant milestone in foreign aid distribution.

After facing challenges and delays, Biden expressed relief at the bill's passing, stating, 'The path to my desk was a difficult one. It should have been easier and quicker, but in the end, we did what America always does - we rose to the moment.' The House passed the bill on Saturday, with Biden signaling his intention to turn it into law. The Senate later voted 79-18 in favor of the bill, sending it to the President for his signature.

The new law allocates approximately $60 billion in aid to Ukraine, $26 billion to Israel, and $8 billion for security in Taiwan and the Indo-Pacific region. In addition, ByteDance has been given a deadline to sell TikTok within nine months, with a possible extension of a year at Biden's discretion. Failure to comply with this requirement could result in a nationwide ban on TikTok in the US.

Following Biden's signing of the bill, ByteDance issued a statement expressing their opposition to what they called an 'unconstitutional law' and vowed to challenge it in court. The company warned that a ban on TikTok would have severe consequences, affecting millions of businesses and users across the country.

In conclusion, the new law signed by President Biden represents a significant step in providing aid to key allies and addressing national security concerns. The requirement for ByteDance to sell TikTok reflects ongoing tensions between the US and China in the realm of technology and social media.