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UPDATE 8/2 1949 EST - Microsoft says the deal to buy Tik Tok's operations in the U.S. from ByteDance is back on and expects to close by Sept 15.

The company says anti-trust concerns are being overcome in talks with the U.S. government.

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U.S. President Donald Trump has confirmed to reporters while on Air Force One returning from Florida on Friday he is banning the Chinese social media app Tok Tok, which many analysts see as parasitic malware.

“As far as TikTok is concerned, we’re banning them from the United States,” Trump declared.

Trump said he could use emergency economic powers or an executive order to enforce the action, insisting, “I have that authority," reported Breitbart.

TikTok has been accused of essentially being a massive surveillance system for the Chinese Communist Party and of sharing information with the CCP.

POTUS declared the action could come as early as Saturday.

Trump’s comments come as it was reported Friday that Microsoft has held talks to buy the TikTok video-sharing mobile app from Chinese owner ByteDance, one person close to the situation told CNBC. This person characterized the talks as having been underway for some time, rather than being brand new, reported CNBC.

Trump told reporters that he didn’t support the reported spinoff deal involving Microsoft buying TikTok.

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