TikTok says the economic harm from a law signed by President Joe Biden would grow if the Supreme Court does not overturn it.
TikTok warned that U.S. small businesses and social media creators would lose $1.3 billion in revenue and earnings in just one month if the popular app is effectively shut down in the United States on Jan. 19.
An advocate holds a sign for TikTok following a news conference outside the US Capitol in Washington, DC, US, on Tuesday, March 12, 2024.in a court filing Monday warned that U.S. small businesses and social media creators would lose $1.3 billion in revenue and earnings in just one month if the popular app is effectively shut down in the United States on Jan. 19, under provisions of a law targeting national security concerns about its China-based parent company.
TikTok and ByteDance plan to ask the U.S. Supreme Court to overturn a recent ruling upholding the law, issued by the U.S. Court of Appeals for the District of Columbia Circuit. The filing also argued that "an injunction is especially appropriate" because it will give the incoming administration of President-electIf TikTok is effectively shut down in the United States in January, Chandlee wrote, American small businesses alone would lose more than $1 billion in revenue — even if the prohibitions are lifted after only a month.
Chandlee also said in the filing that those businesses' advertising, marketing and "organic reach on TikTok" contributed $24.2 billion to U.S. gross domestic product in 2023, with TikTok's own operations adding another $8.5 billion to U.S. GDP.
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