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steven mnuchin testifying

Photograph: Sarah Silbiger-Pool (Getty Photos)

Former Treasury Secretary Steven Mnuchin stated Thursday that he desires to assist purchase TikTok as the Chinese social media app faces a possible ban in the U.S.

“I believe the laws ought to cross and I believe it needs to be bought,” Mnuchin said during a Thursday morning appearance on CNBC. He stated he would manage a gaggle to buy TikTok from Chinese language proprietor ByteDance.

“It’s a terrific enterprise and I’m going to place collectively a gaggle to purchase TikTok,” Mnuchin stated.

Mnuchin stated TikTok “needs to be owned by U.S. companies,” and that China would by no means “let a U.S. firm personal one thing like this in China.”

The Home handed laws Wednesday that would lead to a ban on TikTok in the U.S. if ByteDance doesn’t promote its stake. The invoice handed by a 352-65 vote and is now on its method to the Senate, the place its destiny stays unclear.

This can be a growing story and will likely be up to date.

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