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The US has taken a new approach to data security by banning TikTok, a move that could impact various sectors of the economy. President Joe Biden signed legislation last week to prevent Chinese parent company ByteDance Ltd from owning TikTok, citing national security concerns. This marks a shift in the US approach to data security, with the potential for further restrictions on Chinese companies. The clash over data security has intensified in recent months, with China also implementing its own data security laws. The US is concerned about the potential misuse of data by China, while China has protested US data-related restrictions. The move to ban TikTok could set a precedent for targeting other Chinese tech platforms that have penetrated the US market. The US is also taking steps to prevent sensitive data from being transferred to "countries of concern," and has added provisions to target third-party data brokers. This comes amid growing tensions between the US and China, with concerns about China's influence over US public opinion and access to sensitive data. The US is also considering restrictions on Chinese-made technologies in sectors such as autonomous driving, drones, and electric vehicles. The clash over data security reflects the broader rivalry between the US and China, with implications for trade relations and the global economy.
