While TikTok is extremely popular with younger generations, its Chinese ownership has caused justified fears over its potential use as a means to collect data on Westerners or promote misinformation and pro-China narratives. As China and the West are locked in an escalating technology war, Europe, the US, and Canada are rightly placing greater scrutiny on TikTok's security and data privacy.
Recent decision-making by Canada, the US, and the EU surrounding TikTok is the latest move in the West's attempts to squeeze Chinese technology companies and lead a political witch hunt. While sanctions against the app will have only a slight impact on TikTok's market value, the real losers will be the Canadians prohibited from using the platform.
There's a 19% chance that the US will ban TikTok before 2024, according to the Metaculus prediction community.