Illustration: Aïda Amer/Axios

President Trump said Friday that he plans to ban Chinese video app TikTok as soon as Saturday, via either executive order or emergency economic powers, according to White House press pool comments.

Why it matters: TikTok has been caught in the crossfires of the United States' escalating tensions with China.

What he's saying:

"As far as TikTok is concerned we’re banning them from the United States. ... Well, I have that authority. I can do it with an executive order or [emergency economic powers]."
— Trump to reporters aboard AF1

Earlier on Friday, reports emerged that Microsoft is in talks to potentially acquire TikTok from its parent company, Bytedance (a group of investors has also reportedly made a bid).

  • Yes, but: The president made it clear during his comments that he's not in favor of such a deal that would result in the company having American ownership (a process that would be subject to review by the Committee on Foreign Investment in the United States).

Go deeper

Pelosi: "States don't have the money" for Trump's unemployment order

House Speaker Nancy Pelosi claimed on "Fox News Sunday" that states don't have the funds to comply with the executive order President Trump signed on Saturday, which requires them to cover 25% of an additional $400 in weekly unemployment benefits.

Why it matters: Many state and local governments have had their budgets devastated by the economic impacts of the coronavirus, which have caused expenses to soar and revenues to plunge.

A quandary for state unemployment agencies

Illustration: Aïda Amer/Axios

State agencies charged with paying unemployment benefits to jobless residents have their backs against the wall as they rush to parse President Trump's executive actions on coronavirus aid.

Why it matters: States are being asked to pitch in $100 per unemployed resident, but it’s a heavy lift for cash-strapped states that are still unclear about the details and may not opt-in at all. It leaves the states and jobless residents in a state of limbo.

Updated 44 mins ago - Health

New Zealand reports first local coronavirus cases for 102 days

Prime Minister Jacinda Ardern after a press conference at Parliament on July 22 in Wellington, New Zealand. Photo: Hagen Hopkins/Getty Images

AUCKLAND, New Zealand — Auckland is locking down and the rest of New Zealand faces lesser restrictions for 72 hours after a family of four tested positive for COVID-19, Prime Minister Jacinda Ardern announced Tuesday.

Why it matters: It's the first cases not in managed isolation for 102 days, Ardern said at a news briefing.