TikTok is under review by the Committee on Foreign Investment in the United States (CFIUS), Treasury Secretary Steve Mnuchin said Wednesday, confirming a Reuters report from late 2019. He told reporters outside the White House that President Donald Trump will get a recommendation on the Chinese-owned video app this week.
CFIUS reviews foreign acquisitions for potential national security risks; TikTok parent company ByteDance bought US company Musical.ly for around $800 million in 2017.
Politicians expressed concern that the Chinese government could use the app to spy on US citizens, and Trump said his administration is considering a TikTok ban.
The Treasury Department didn't immediately respond to a request for further comment.
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