From Fox News:
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. Microsoft is a leading contender to buy. “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.” He said he could use an executive order or emergency economic powers.
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