The US House of Representatives is set to vote on a bill that could lead to a nationwide ban on the social media platform TikTok. The vote is in response to concerns over TikTok parent company ByteDance's ties to the Chinese Communist Party and the protection of Americans' personal data. On Monday, former President Donald Trump made comments claiming that the ban would empower Facebook (META), which he labeled an "enemy of the people."

Rep. John Moolenaar (R-MI) joins Yahoo Finance to discuss the possible sale of TikTok and the possibility of the platform's being "disqualified from US markets."

Moolenaar clarifies that the legislation does not enact a ban, instead requiring ByteDance to sell TikTok to another entity, provided it "wouldn't be considered a foreign adversary." Though Moolenaar does not see evidence of a possible sale to Meta, his larger concern is the sanctity of Americans' data: "When you consider TikTok has 177 million users in the United States, it's a very attractive, lucrative business. I think that's kind of a hypothetical situation where, until they put it on the market, they don't know who would be interested in buying. It certainly has been a successful thing. It has many of our children addicted to it. We're simply trying to say we do not want a foreign adversary to have that control over the data, the information of American citizens, and this is a national security issue considering the conduct of the Chinese Communist Party and their nefarious activities in the United States as well as around the world. "

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Editor's note: This article was written by Nicholas Jacobino

Video Transcript

BRAD SMITH: Congress and TikTok tensions heighten. The house is set to vote on Wednesday in a decision that could lead to a US ban of TikTok. Congress is targeting the video app amid concerns of the platform's roots in China and security risks to US users. Joining us now is Republican Congressman, John Moolenaar who is a member of the China Select Committee. Good to have you here with us today, representative. First and foremost here, I mean, we're hearing about a lot of TikTokers calling into offices. Is your office one of them, and what are you able to give to some of those users who are trying to lend their voice to this broader vote that's taking place?

JOHN MOOLENAAR: Well sure. And yes we are definitely hearing from users. And it's important to note that this legislation does not enact a ban on TikTok. In fact, that is something very clearly that TikTok actually put out a push message with inaccurate information, and now we're getting people responding to that.

So what this does is requires ByteDance, which is the CCP Chinese Communist Party affiliated company that is the owner of TikTok, it requires them to sell TikTok to some kind of another entity. So it can't be an entity that is a foreign entity of concern whether it's Russia, China, North Korea, Iran, it has to be someone who wouldn't be considered a foreign adversary. And so what this does is gives them six months to sell or they can choose not to but then they would basically disqualify themselves from the US market.

SEANA SMITH: Congressman, it's Seana here. It's great to see you. Thanks so much for taking the time to join us. Former President Donald Trump yesterday voicing his opposition to a possible ban. I'm curious just what you're hearing from your colleagues and whether or not you're at all worried that this could impact its success in the house tomorrow?

JOHN MOOLENAAR: Well, I think President Trump is certainly raising his concerns about Facebook. And he is concerned that ByteDance would sell TikTok to Facebook and that Facebook would even become more powerful. I don't see any evidence for that happening. I think that TikTok is going to be sold to whoever is the highest bidder. And I think there will be a number of entities who would be interested in purchasing TikTok.

This legislation is very similar to what President Trump did in his last year of office raising these national security concerns about TikTok. And so I think it's very consistent with his policies. I understand he's not a fan of Facebook and their involvement in previous elections. But I think this is legislation that will stand on its merits based on the National Security interests of our country.

SEANA SMITH: Then Congressman there's also the legal questions of this just in terms of raising free speech issues. I'm curious how you're looking at that and whether or not you're making the argument that the National security threat if that should hold a little bit more weight than some of these free speech issues.

JOHN MOOLENAAR: Well yes it's a great question. And clearly free speech is something that's protected, and we are not, in any way, addressing content with respect to TikTok. We are simply raising the concerns about conduct.

When you look at the Chinese Communist Party who really has influence over TikTok, when you consider that they floated spy balloons over our country, they've hacked our databases for federal agencies like the Department of Commerce, they intimidate billions of people in their own country. They have done that through secret police stations here in this country, they have bribed officials.

So what we're talking about is regulating and protecting the American public from conduct based on the Chinese Communist Party and their influence with ByteDance, the parent company of TikTok.

BRAD SMITH: A forced sale of TikTok. There are only a few companies that could actually afford that price tag. To what extent would then regulators kick the tires on or just look at this deal and look at the potential suitors and say, OK, this actually goes up against deals that we would even consider letting through. What is the likelihood that a deal would get through even if forced?

JOHN MOOLENAAR: Well when you consider TikTok has 177 million users in the United States, it's a very attractive, lucrative business. You know, I think that's, kind of, a hypothetical situation where until they put it on the market, they don't know who would be interested in buying. But it certainly has been a successful thing. It has many of our children addicted to it.

And we're simply trying to say we do not want a foreign adversary to have that control over the data, the information of American citizens. And this is a national security issue considering the conduct of the Chinese Communist Party and their nefarious activities in the United States as well as around the world.

BRAD SMITH: What, on the data front, would need to change even if TikTok was sold to a US party?

JOHN MOOLENAAR: Well people would still be able to access their own data. That would be a requirement of this legislation that people's videos or information that they have they would still be able to access that. And so I think the users would not see any difference.

What this simply does is it forces at the level of the host for the app, the people who sell the apps, they would have to be mindful of not allowing one of these foreign entities of concern to have an app like this active in the United States. And so it really, from the user standpoint, I don't think they would see any difference.

SEANA SMITH: Congressman just following up real quick where we started the conversation with Brad asking just what you-- or if you had been hearing from some of your constituents. I'm curious just how you're looking at how you and your colleagues, on both sides of the aisle, are looking at how this could ultimately impact the general election in November.

JOHN MOOLENAAR: Well, we're not looking at it from a political consideration, we're looking at it from a national security situation. And again, this is a recognition of our adversary, The Chinese Communist Party and what they're doing to influence this country, what they're doing to secure data and biometric data, all sorts of information that they could use for military purposes and for other reasons.

And so I think that as the general public becomes more aware of the threat from the Chinese Communist Party, they'll understand this as a necessary safeguard. This is a strongly bipartisan bill that passed out of the Energy and Commerce Committee unanimously. And that rarely happens in Congress. And it's supported by groups like the Heritage Action as well as leading Democrats.

So it's something that I think is a consensus around the need to protect us from the Chinese Communist Party and make sure that American's data is protected. And so I think you're going to see bipartisan support for this. And I think people will not, as users, see a significant difference in their activity.

BRAD SMITH: All right, well we do know previously that it was companies like Walmart and Oracle that were interested in buying TikTok and a host of others that fell off earlier than that. So we'll see if this does move forward, which companies would then make themselves known. Congressman John Moolenaar Thanks for taking the time today.

JOHN MOOLENAAR: Thank you. Thanks for having me.