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shou zi chew released a video on tiktok threatening legal action and warning that if the bill becomesaw it will mean the end of tiktok for its 170 million users in the us. we'll hearfrom him injust a moment, but first, here's our us business correspondent erin delmore who has been following developments on capitol hill. the houseboat sets the stage for what could become an ultimatum to tiktok chinese owned company bytedance. selby avenue or it will be banned. there is a way to go between here and there. it needs to go through this and it faces an uncertain future. the senate majority leader has been noncommittal about whether he will bring it up for a vote. some studies are only about to vote against it. if it does move through the senate, president biden that he will sign it. components of the bill argue tiktok is a national security threat. and the app 170 million us users are vulnerable to data theft by the chinese government. the priority is national security and chinese axis to millions of americans mines. it is with the primary issue is. i americans mines. it is with the primary

in a video message posted to the social media app, shou zi chew said his company will do all it can to

shou zi chew released a video on tiktok threatening legal action and warning that if the bill becomes it will mean the end of tiktok for its 170 million users in the us. here's some of that video. hi, everyone, it's shou here. just wanted to share some thoughts with our us users on the disappointing vote in the house of representatives. there has been a lot of misinformation and i hope to clarify some things. first, thank you to all of our incredible community, you are what makes tiktok so special. thank you for making your voices heard. over the last few years, we have invested to keep your data safe and our platform free from outside manipulation. we have committed that we will continue to do so. this legislation, if signed into law, will lead to a ban on tiktok in the united states. even the bill sponsers admit that is their goal. this bill gives more power to a handful of other social media companies. it will also take billions of dollars out of the pockets of creators and small businesses. it will put more than 300,000 american jobs at risk and it will take away your tiktok. that

in a video message posted to the social media app, shou zi chew said his company will do all it can to protect itself. this comes after the us house on wednesday voted overwhelmingly in favour of a bill that could force tiktok�*s chinese owner to sell their stake in the platform, orface a nationwide ban. presidentjoe biden urged the senate to take swift action to pass the bill. lawmakers say the app poses a national security threat as its parent company, bytedance, is based in beijing and is subject to a law requiring it to share data with the chinese government. tiktok has told lawmakers that it has taken steps to ensure the data of american users isn't compromised by employees in china. nevertheless, the legislation should head to the senate next. its fate there is uncertain. following the house vote, tiktok urged its 150 million users in the us to lobby against the bill by calling on them to contact their members of congress. tiktok influencers also protested against the bill outside the white house. here's what they told our correspondent. i am aware that i'm giving my data, right.

here's tiktok�*s shou zi chew.st few years we have invested to keep your data safe and our platform free from outside manipulation. we have committed that we will continue to do so. this legislation is signed into law will lead to a band of tiktok in the united states. will put more than 300,000 americanjobs at states. will put more than 300,000 american jobs at risk and will take away your tiktok. the suggestion that tiktok could be shut down in the us has already started to raise concerns among influencers, who use the social media site to pursue their careers. here are the thoughts of beverly hills—based tiktok star, macy eleni. i don't know why politicians are going after it the way they are. it feels to me like they are. it feels to me like they are focusing on things that i weigh less important than all the things they should be focusing on. it doesn't feel great as someone in this country during an election year for this to be where so much focus is when there's so many more important thing going on. china h

shou zi chew released a video on tiktok threatening legal action and warning that, if the bill becomeshe end of tiktok for its 170 million users in the us. here's some of that video. hi, everyone, it's shou here. just wanted to share some thoughts with our us users on the disappointing vote in the house of representatives. there has been a lot of misinformation and i hope to clarify some things. first, thank you to all of our incredible community, you are what makes tiktok so special. thank you for making your voices heard. over the last few years, we have invested to keep your data safe and our platform free from outside manipulation. we have committed that we will continue to do so. this legislation, if signed into law, will lead to a ban on tiktok in the united states. even the bill sponsers admit that is their goal. this bill gives more power to a handful of other social media companies. it will also take billions of dollars out of the pockets of creators and small businesses. it will put more than 300,000 american jobs at risk and it will take away your tiktok. in a fresh developm

shou zi chew is expected to be in the u.s.nd members are being told to call their members of congress. the creators were joined by a handful of progressive lawmakers including congressman maxwell frost who said the roughly six-month window tiktok would have to find a new owner under the bill wouldn't be enough time. >> it's unreasonable to believe in 180 days a buyer will be found and a deal could move forward, which would result in tiktok being banned. whether it's a year, two years, six months, a ban is a ban. >> the bill leave as clear path in the senate. those i spoke with yesterday told me they share national security concerns around the app but worry about other issues, freedom of speech, whether it singles out tiktok unconstitutionally, and the ramifications of getting writ of an app that's used by 170 million users. one of the bill's main backers says the bill has been made to avoid pitfalls like measures too targets against one company. >> what our bill is a regulatory framework. it's prospective for companies control

you also saw tiktok's ceo shou zi chew report a video saying this bill would be a ban trying to pushnst lawmakers who want tiktok to remain in the u.s. just can't have that connection with bytedance. the chinese commerce ministry said today they will be meeting to protectand safeguard china's interests in that, so a lot more to come here in how bytedance might move and china might move and if the senate might wind up moving. guys? >> very interesting. thank you for following it for us with all the twists and turns and very quick period of time it seems. dramatic movements. >>> as we head to break check out the biggest gainers on the s&p this morning. we've got microsoft up almost 3%. that's one of those names we have follow closely as well as google's parent company alphabet up by 2%. more with one chief investment strategist warning there's risks to the rally. >>> checking in on the markets about an hour in trading. open tire lost gains and the dow down 100 plus and now down 25 as everything is driven by the pivot around the 10-year yield. our next guest believes it will be difficul