US President Donald Trump has said Microsoft is in discussions to acquire TikTok and that he would like to see a "bidding war" over the sale of the social media app.

President Donald Trump on Monday said he would welcome a “bidding war” for TikTok as he appeared to confirm that Microsoft is among the companies that have declared interest in acquiring the popular social media platform. Trump told reporters aboard Air Force One he has an affinity for bidding wars.

Donald Trump seeks a "bidding war" for the app after years of pressure on ByteDance to sell its US operations over security concerns.