Former U.S. Treasury Secretary Steven Mnuchin said on Thursday that he would form an investor group to try to acquire TikTok if its Chinese owners did not do so. A day earlier, the House of Representatives voted to ban the popular video app in the United States. Agree to sell it.
Mnuchin, who served in former President Donald Trump’s cabinet, told CNBC that TikTok, which has more than 170 million U.S. users, “should be owned by American companies. The Chinese will never let an American company own something like this in China.” .
Mnuchin did not provide details about who might be included in the investor group or TikTok’s possible valuation. TikTok is a wholly-owned subsidiary of Chinese technology company ByteDance Ltd.
The House of Representatives voted 352 to 65 to call for the sale due to concerns that TikTok’s current ownership and use in the United States poses a national security threat to the United States. The fate of the Senate legislation is uncertain.
Senate lawmakers said they would thoroughly review the measure approved by the House. Senate Majority Leader Chuck Schumer said he would have to consult with relevant committee chairs to determine the bill’s path.
President Joe Biden has said he will sign the measure if Congress passes it.
TikTok denies that it can be used as a tool of the Chinese government. The company said it has never shared U.S. user data with Chinese authorities and would not do so if asked.The U.S. government has also provided no evidence that TikTok shared any such information with Chinese authorities
