TikTok, which has more than 170 million American users, is a wholly-owned subsidiary of Chinese technology firm ByteDance Ltd.
Speaking on CNBC’s “Squawk Box,” Mnuchin said Thursday that he believes TikTok should be sold.
“This should be owned by U.S. businesses. There’s no way that the Chinese would ever let a U.S. company own something like this in China,” said Mnuchin.
Mnuchin, the U.S. Treasury secretary under President Donald Trump, didn’t provide details on who else may be included in the investor group he plans on forming or TikTok’s possible valuation.
TikTok did not immediately respond to a request for comment.
The House bill, passed by a vote of 352-65, now goes to the Senate, where its prospects are unclear. House lawmakers had acted on concerns that TikTok’s current ownership structure is a national security threat.
Lawmakers in the Senate have indicated that the measure will undergo a thorough review. Senate Majority Leader Chuck Schumer, D-N.Y., has said that he’ll have to consult with relevant committee chairs to determine the bill’s path.
President Joe Biden has said if Congress passes the measure, he will sign it.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
TECH TIP: START THE NEW YEAR WITH A CLEAN INBOX
The new year is always a good time to make a fresh start — including with your email inbox. To kick off 2025 with a clean slate, why not clear out all those unnecessary and unwanted messages?
AGING WELL MEANS HAVING GOOD BALANCE.HERE'S HOW TO PRIORITIZE IT
Taking a shower. Grocery shopping. Moving around the kitchen. Getting dressed. The underappreciated link between these mundane activities is good balance, which geriatricians say is key to maintaining an independent lifestyle as we age.
PRIME VIDEO'S USE OF AI, NEXT GEN STATS ON NFL GAMES IS HELPING VIEWERS UNDERSTAND THE GAME BETTER
The Los Angeles Rams defense appeared to be content to drop back in coverage and prevent San Francisco's Brock Purdy from completing a Hail Mary on the final play of their Thursday night game on Dec. 12.
GOOGLE FACES MORE SCRUTINY AS UK WATCHDOG FLEXES NEW DIGITAL COMPETITION POWERS
Britain's competition watchdog flexed new digital market powers for the first time with an investigation into Google's search and search ad businesses.
BOEING'S AIRCRAFT DELIVERIES AND ORDERS IN 2024 REFLECT THE COMPANY'S ROUGH YEAR
Boeing delivered less than half the number of commercial aircraft to customers than its European rival in 2024 as the American aerospace giant's output suffered under intensified government scrutiny and a factory workers' strike, according to data released this week.
TAIWAN IPHONE MAKER FOXCONN SETS ITS SIGHTS ON THE EVER MORE CROWDED EV MARKET
Auto industry newcomers like Taiwan-based iPhone maker Foxconn and China's Huawei Technologies are maneuvering to gain an edge in the electric vehicle sector, prompting automakers like Japan's Nissan and Honda to announce plans to join forces against a flood of ambitious competitors.
CAN AI HELP HUMANS UNDERSTAND ANIMALS AND RECONNECT WITH NATURE? A NONPROFIT RESEARCH LAB THINKS SO
Peeps trickle out of a soundproof chamber as its door opens. Female zebra finches are chattering away inside the microphone-lined box. The laboratory room sounds like a chorus of squeaky toys.
AMAZON IS ENDING ITS 'TRY BEFORE YOU BUY' OPTION FOR PRIME MEMBERS
Amazon is saying goodbye to “Try Before You Buy.”
TAIWANESE CHIPMAKER TSMC POSTS 57% SURGE IN PROFIT THANKS TO THE AI BOOM
Taiwan computer chip maker TSMC reported Thursday that its profit in the last quarter rose 57%, buoyed by the artificial intelligence boom.
HERE'S WHAT YOU NEED TO KNOW ABOUT CREDIT CARD DEFAULTS
Credit card defaults are on the rise for Americans, reaching the highest level in 14 years. U.S. credit card defaults jumped to a record $46 billion from January through September 2024, according to the Financial Times, citing data analyzed by BankRegData.
