Reuters

US presidential candidate Donald Trump said on Monday TikTok was a national security threat but also said a ban on the popular app would hurt some kids and only strengthen Meta Platforms` Facebook, which the Republican has harshly criticized.

Trump reiterated his concerns as lawmakers weigh a bill this week that would give TikTok`s Chinese owner ByteDance about six months to divest the short video app used by 170 million Americans.

The US House of Representatives is set to vote on Wednesday under fast-track rules that require two-thirds of members to vote "yes" for the measure to win passage.

TikTok told Congress late Monday in a letter seen by Reuters it is "not owned or controlled by the Chinese government" and argued if the company was sold another buyer would not continue TikTok`s $1.5 billion effort to protect US data.

"Ironically, US user data could be less secure under a divestment scheme," the company said.

The FBI, Justice Department and Office of the Director of National Intelligence plan to hold on Tuesday a classified briefing for House members, two sources said. FBI Director Chris Wray reiterated concerns about TikTok at a hearing on Monday.

The 2024 Annual Threat Assessment of the US Intelligence Community released on Monday said "TikTok accounts run by a PRC propaganda arm reportedly targeted candidates from both political parties during the US midterm election cycle in 2022."

The Justice Department detailed its security concerns about TikTok in a document last week first reported by Reuters.

"I`m not looking to make Facebook double the size," Trump told CNBC on Monday. "And if you if you ban TikTok, (then) Facebook and others, but mostly Facebook, will be a big beneficiary. And I think Facebook has been very dishonest."

Trump met recently with investor Jeff Yass, whose investment firm Susquehanna International Group has a stake in ByteDance, he confirmed on CNBC. Trump said they did not talk about TikTok.

Meta Platforms shares closed down 4.4 percent at $483.59 on Monday. The company declined to comment.