TikTok pulling itself out of its Chinese holding company and operating as an independent American company is a much better solution than banning, a top White House official said on Thursday.
There are reports that TikTok is going to pull out of the holding company, which is China, and operate as an independent American company, White House Economic Advisor Larry Kudlow told reporters here.
When asked whether any American company would like to buy the Chinese firm, he said, “I don’t want to speculate on that.”
“That’s really a market question, but I’m just saying that’s a much better solution than banning,” he said.
The top White House economic advisor, responding to another question, said that the servers of TikTok, after becoming an American company, will be in the US and not in China.
A day earlier, the White House indicated that a decision on Chinese banning Chinese mobile applications, including TikTok, could be taken within weeks.
“I do not think there is any self-imposed deadline for action, but I think we are looking at weeks, not months,” White House Chief of Staff Mark Meadows told reporters aboard Air Force One, flying with President Donald Trump form Atlanta.
“There are a number of administration officials who are looking at the national security risk as it relates to TikTok, WeChat and other apps that have the potential for national security exposure, specifically as it relates to the gathering of information on American citizens by a foreign adversary,” Meadows said.
The move to ban TikTok in the US has suddenly gained momentum after India last month banned 59 Chinese apps, including TikTok and UC Browser, saying they were prejudicial to the sovereignty, integrity and security of the country.
On Wednesday, a group of 24 influential Republican Congressmen urged President Trump to ban TikTok and other Chinese mobile applications, stating that India has taken the extraordinary step of banning dozens of Chinese-affiliated apps due to national security concerns.