Trump’s Treasury Secretary Steve Mnuchin wants to buy TikTok as it faces U.S. ban
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Donald Trump’s former Treasury Secretary Steve Mnuchin has revealed he is bringing together a group of investors to buy TikTok.
Mnuchin announced the offer less than 24 hours after the House of Representatives passed a bill that would force its Chinese-backed parent company to divest the social media app or face a ban in the US.
“I think the legislation should be passed and I think it should be sold.” Mnuchin told CNBC’s ‘Squawk Box’ Thursday morning. “It’s a great company and I’m going to put together a group to buy TikTok.
“This should be owned by American companies,” he added. “There’s no way the Chinese would ever let an American company own something like that in China.”
TikTok CEO Shou Zi Chew has promised that the company will exercise its legal rights to avoid a ban.
Donald Trump’s former Treasury Secretary Steve Mnuchin has revealed he is gathering a group of investors to try to buy TikTok. He is pictured with his wife Louise Linton in 2017
The bill on the future of TikTok now goes to the Senate. It’s unclear whether it will pass, but President Joe Biden has said he will sign the legislation if it does.
Trump, Mnuchin’s former boss, is among the high-profile figures who have spoken out against the ban.
The former president says getting rid of the app in the US would empower other social media platforms such as Facebook, which he described as the “enemy of the people.”