President Donald Trump has announced he is set to ban the video-sharing app TikTok.

He told reporters he could sign an executive order as early as Saturday banning the Chinese-owned app following concern from US security officials that the app, owned by ByteDance, could be used to collect the personal data of Americans.

TikTok, which is the fast-growing app in the world currently with over 80 million users,has denied accusations that it is controlled by or shares data with the Chinese government. 

Speaking aboard Air Force One, the president said: "As far as TikTok is concerned, we're banning them from the United States."

It was not immediately clear what authority Mr Trump has to ban TikTok, or how it would be implemented. 

The president said he could use emergency economic powers or an executive order to enforce the action, insisting, “I have that authority.”

He added: “It’s going to be signed tomorrow.”

Microsoft is in advanced talks to buy the US operations of TikTok – the popular Chinese-owned video app that has been a source of national security and censorship concerns, according to reports.

The potential deal would be a victory for both companies, making Microsoft a major player in the social media arena and providing relief to TikTok and its parent company Bytedance.