Former Treasury Secretary Steven Mnuchin says hes going to put together an investor group to buy TikTok, a day after the House of Representatives passed a bill that would ban the popular video app in the U.S. if its China-based owner doesnt sell its stake.

Speaking on CNBCs Squawk Box, Mnuchin said Thursday that he believes TikTok should be sold.

This should be owned by U.S. businesses. Theres no way that the Chinese would ever let a U.S. company own something like this in China, Mnuchin said on the program.