President Trump told reporters on Air Force One Friday that he will take executive action to ban TikTok as soon as Saturday.
TikTok has been making headlines since it got banned from India along with 58 other Chinese Apps on June 30 citing 'national security concerns.'
Video-sharing app TikTok is owned by Chinese company ByteDance, which is why critics say they might share user data to Chinese government.
Earlier in July, Secretary of State Mike Pompeo welcomed the TikTok ban in India while talking to Fox News, and U.S. President Donald Trump also weighed in. In an interview with Gray Television’s Greta Van Susteren, he said that he’s considering banning TikTok.
"It’s something we’re looking at, yes. It’s a big business. Look, what happened with China with this virus, what they’ve done to this country and to the entire world is disgraceful," U.S. President Trump said.
Before the ban, India was one of the biggest markets for TikTok with more than 120 million users. TikTok's popularity lead to emergence of new breed of Indian TikTok stars who would make a huge amount of money promoting various brands on their platform.
Indian TikTok Star Purabi Bhargava, 22, who has more than 4.7 million followers gained fame on this platform. Her popularity has given her various brand deals. She says the ban has a larger impact on those who solely use TikTok.
"We were getting earnings from TikTok, Instagram and YouTube. Now we are having only two sources out of three. People like me are having three or four platforms to earn money, it's good,"she said,"but if people are only having TikTok, that's a really bad thing for them."
Pratik Gaur, 22, runs the talent management company Celebistaan, which grooms the top TikTokers of India. He says that the ban has had a huge loss of revenue.
"If they have 30 million followers, they're earning around, $5,000 or $6,000 per month, so it's a huge impact," he said. " It's a huge thing for a 17-year-old boy or a 17-year-old girl because they can't expect that much amount in this age."
TikTok seems to be in a lot of trouble these days as big companies like Amazon (AMZN) - Get Report reportedly told their employees to delete the app citing "security risk", which later they backtracked, calling it "an error."
However, TikTok has maintained:
"TikTok is led by an American CEO, with hundreds of employees and key leaders across safety, security, product, and public policy here in the U.S. We have no higher priority than promoting a safe and secure app experience for our users," said TikTok's spokesperson. "We have never provided user data to the Chinese government, nor would we do so if asked."
Taking a closer look at all the headlines, people might not be surprised if it's actually banned in the U.S., too.
What happens to the TikTok stars who are making a good earning because of this platform?
Indian TikTok mentor Pratik Gaur said that TikTok is banned in India, not the talent.
"TikTok is just a platform or a stage that you bought. The performance is yours. So you don't have to worry." he said.