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Updated at 11:51 a.m. ET Saturday

President Trump has announced he plans to ban TikTok, the hugely popular video-sharing app, from operating in the U.S. as early as Saturday.

Trump's announcement comes after reports Friday that software giant Microsoft was in talks to acquire the app's U.S. operations. The president made it clear that he does not approve of the proposed acquisition.

The CEO of TikTok, the popular app for sharing short-form videos, is attacking Facebook for planning the launch of a "copycat" product, accusing the social media giant of trying to smear TikTok and put it out of business in the U.S.

Updated 1:55 p.m. ET Tuesday

TikTok is contemplating ways to distance itself from its Chinese parent company as threats from Washington grow louder.

When India imposed coronavirus restrictions in late March, Arman Rathod's work dried up.

The 29-year-old had made a living washing cars and painting statues of Hindu gods in his hometown of Valsad, in western India. Broke and bored under lockdown, Rathod and his friends started recording videos of themselves in April on the social media app TikTok.