A ban would further pressure TikTok’s Chinese parent company ByteDance to sell the app’s U.S. operations amid national security concerns about users' personal data.
“As far as TikTok is concerned, we’re banning them from the United States,” Trump told reporters on Air Force One.“I have that authority...It’s going to be signed tomorrow."
Investment bankers told FOX Business if the Microsoft deal falls through, ByteDance will certainly shop TikTok wider including to private equity firms.
A person with direct knowledge told FOX Business there are two to three serious buyers that have expressed interest.
Trump as recently as March used executive powers to force a Chinese company to sell its stake in a U.S. hotel software company, the Washington Post reported.