Trump Treasury Secretary Steve Mnuchin says he's looking to buy TikTok

Steve Mnuchin, the Treasury secretary under the Trump administration, said Thursday that he is organizing a group to buy TikTok as a bill proceeds through Congress that would force the popular social media app to either be sold or be banned.

"I think the legislation should pass and I think it should be sold," Mnuchin said on CNBC's "Squawk Box," one day after the House of Representatives passed a bipartisan bill that would force the ByteDance, TikTok's Beijing-based parent company, to sell the video app. 

"It’s a great business and I’m going to put together a group to buy TikTok," he also said. "This should be owned by U.S. businesses. There’s no way that the Chinese would ever let a U.S. company own something like this in China."

The bill has yet to pass the Senate or the president's desk to become law.

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