Treasury Secretary Janet Yellen warned on Wednesday that the Chinese-owned video-sharing app TikTok poses legitimate national security concerns to the United States.
TikTok is owned by ByteDance, a company in Beijing. U.S. officials and lawmakers warned that the Chinese Communist Party could compel the company to turn over American users data or expose them to propaganda.
TikTok and ByteDance are currently being investigated by the Treasury Department's Committee on Foreign Investment in the U.S. CFIUS, which examines national security risks associated with foreign-owned companies operating in the U.S. or foreign investments in American companies.
Yellen said at the New York Times Dealbook Summit in New York on Tuesday that she believes there are legitimate national security concerns with regard to TikTok.
That is a case in progress, Yellen said.
A TikTok spokesman told FOX Business last week that they could not comment on the specifics of our confidential discussions with the U.S. Government, but they are confident that we are on a path to satisfy all reasonable U.S. national security concerns. FBI director Christopher Wray testified to the House Homeland Security Committee earlier this month that he is extremely concerned about the threats posed by TikTok.
Wray said that there were concerns that the Chinese government could use it to control data collection on millions of users, or control the recommendation algorithm, which could be used for influence operations if they choose, or to control software on millions of devices, which could give the chance to compromise personal devices. Wray noted that the FBI's foreign investment unit and the Department of Justice are involved in the CFIUS process and that the agency's input would be taken into account in any agreements that might be made to address the issue. While Biden administration officials and lawmakers are warning about TikTok, former Secretary of State Mike Pompeo is alarming about the video-sharing app in 2020.
The Trump administration imposed a ban on TikTok over concerns that the app exposed Americans to having their personal information sent straight to the Chinese government.
Pompeo, a Fox News contributor, said earlier this month the government 100% should ban TikTok, calling it a powerful tool with deeply embedded AI and warning that it is an element of the Chinese security apparatus. As for China, top intelligence community officials continue to warn that China is a threat to U.S. economic and national security.