president joe biden’s administration has reportedly told chinese owners of the popular videoclip sharing site tiktok that they must sell their stakes or else face a ban in the us tiktok is owned by beijingbased bytedance ltd late wednesday the wall street journal reported the biden administration and the committee on foreign investment in the us have recently demanded the sale last week biden and a dozen senators from both sides of the aisle backed a bill that would allow the us commerce secretary to block foreign technologies like tiktok on national security grounds