During his tenure as Treasury secretary in the Trump administration, former Secretary of the Treasury Steven Mnuchin chaired the Committee on Foreign Investment in the U.S. (CFIUS) and had President Trump sign an order mandating that TikTok be sold. Mnuchin remains adamant that TikTok should be sold, and he expressed his belief that it is a “great business” in an interview with CNBC’s “Squawkbox.”
Former Treasury Secretary Mnuchin is currently leading a group of American investors in an effort to purchase TikTok, following the passage of legislation in the House of Representatives that would require its Chinese parent company, ByteDance, to sell the popular social media platform to American interests over national security concerns. This legislation aims to address concerns about TikTok’s potential threat to national security.
While CFIUS has been investigating TikTok for several years under the Biden administration, TikTok has not been forced to sell in order to continue its operations in the United States. The ongoing scrutiny and debate surrounding the ownership and operation of this popular social media platform reflect Mnuchin’s efforts to ensure that it falls into American hands.
