President Donald Trump announces he will BAN TikTok in the U.S. by executive order as soon as TODAY – and he does not want to let an American firm buy the operation
- President Trump told reporters traveling on Air Force One on Friday that he plans to ban TikTok as soon as Saturday
- ‘Well, I have that authority. I can do it with an executive order,’ the president said
- The popular video-sharing app has raised concerns among officials in the U.S. and around the world, over claims it is being used by China to spy on citizens
- Trump also said he did not approve of an American company to buy the platform amid reports Microsoft was ‘in talks’ to acquire the app
- Parent company ByteDance has consistently denied any links to the Chinese government
President Donald Trump announced on Friday he will ban Chinese-owned social media app TikTok from operating in the United States. Trump said the popular video-sharing platform could be barred as soon as Saturday by executive order or through use of emergency economic powers.
‘As far as TikTok is concerned, we’re banning them from the United States’ he told reporters on Air Force One as he returned from Florida.
‘Well, I have that authority. I can do it with an executive order or that [emergency economic powers].’
The president also made clear he did not support an American company to purchase TikTok’s U.S. operations after an earlier report claimed Microsoft was ‘in talks’ to acquire the platform.
Sources told The New York Times on Friday that a deal was in the works, but it was unclear where the two firms stood.
At the same time, reports had claimed Trump was planning to order TikTok’s Chinese parent company, ByteDance to give up ownership of the platform.
Sources familiar with the matter told Reuters the White House, ByteDance and potential buyers of TikTok, including Microsoft failed to produce a deal that would result in the Chinese company shedding the app’s U.S. operations.
The talks are expected to continue in the coming days.
While Microsoft already owns professional social media network LinkedIn, it would face fewer regulatory hurdles in acquiring TikTok than its more direct competitors, such as FaceBook Inc, one of the sources said.
But ByteDance’s valuation expectations for TikTok of more than $50billion, and its insistence on retaining a minority stake in the app complicated deal talks, another source said.