I think it should be sold.

I understand the technology.

It would be no one investor that controlled this.

Steven Mnuchin

Steven MnuchinSarah Silbiger-Pool/Getty Images

This should be owned by U.S. businesses, Mnuchin told CNBC.

Theres no way that the Chinese would ever let a U.S. company own something like this in China.

It will also take billions of dollars out of the pockets of creators and small businesses.

Donald Trump and ABC News' Terry Moran

It will take away your TikTok, he said.

The app has about 170 million users in the U.S., according to TikTok.

Others also argued that TikTok could be used as a propaganda tool during the presidential election.