Former President Trump said Monday that he believes TikTok poses a national security threat to the U.S., but reiterated concerns that banning the app would benefit competitors like Facebook.

Why it matters: Trump, the GOP presidential frontrunner, wields significant influence over the party's lawmakers on Capitol Hill, giving him the power to potentially kill a new bill targeting the wildly popular app in the Republican-controlled House.

Driving the news: Asked during an interview on CNBC's "Squak Box" Monday if he believes TikTok is a national security threat, Trump replied, "I do believe that."

• Trump implied he is in favor of regulating the platform, saying: "We have to very much go into privacy and make sure that we are protecting the American people's privacy and data rights."
• However, Trump stressed that these concerns are not unique to the Chinese-owned TikTok, citing Facebook and other American platforms.
• "They get plenty of information and they deal with China, and they'll do whatever China wants," he said.

The big picture: Top U.S. officials, including FBI Director Chris Wray, have repeatedly warned that the Chinese government could exploit TikTok to launch influence campaigns and access sensitive data on American users.

• Trump, as president, spearheaded the initial effort to ban TikTok. Yet he appeared to reverse course last week by arguing that banning TikTok would "double" Facebook's business.
• Trump echoed these remarks during his appearance on "Squawk Box," saying that Facebook and others would be a "big beneficiary" of a TikTok ban.
• "I think Facebook has been very bad for our country, especially when it comes to elections," he added.

Zoom out: The new House bill would force TikTok's Chinese parent company ByteDance to divest its ownership of the app within 165 days or see TikTok banned from app stores.

• The bill has spurred blowback from app users after TikTok warned the legislation amounted to a "total ban" — a charge the bill's authors have denied.
• The Biden administration has also sought to regulate TikTok and even banned it from federal devices. Despite this, the Biden campaign joined TikTok last month to court young voters.

Go deeper: Furious Congress plows forward with TikTok bill after user revolt