TikTok has released an economic impact report highlighting its substantial contribution to the US economy. The report, authored by Oxford Economics, claims that TikTok drove $14.7 billion in revenue across key sectors of the US economy and contributed $24.2 billion to the overall GDP in 2023. The platform reportedly supports over 7 million businesses and has grown to 170 million active users.
US Senate considers a bill that could force TikTok’s Chinese parent company, ByteDance, to divest its US assets. If enacted, the bill would set a six-month deadline for the divestiture or trigger a ban. TikTok has launched a $2.1 million ad campaign opposing the measure to highlight its economic contributions.
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