Asked about app's security, the Republican presidential candidate said "there's a lot of good and there's a lot of bad" with the social media platform.
"There are a lot of people on TikTok that love it. There are a lot of young kids on TikTok who will go crazy without it," Mr Trump added.
He said he agreed with those who see TikTok as a national security threat, but argued that Facebook was also a threat to the US government.
"I think Facebook has been very bad for our country, especially when it comes to elections," Mr Trump added.
For years American officials have warned that data from ByteDance - a Chinese tech giant - could fall into the hands of the Chinese government.
TikTok executives deny sharing any data with Beijing, and maintain they would refuse to do so if asked.
In 2020, Mr Trump signed a presidential executive order that directed ByteDance to sell off TikTok within 90 days, but it was stymied by legal challenges.
Meta removed his accounts following the US Capitol riot in 2021.
Club for Growth, a conservative lobbying group that is close with Mr Trump, has taken a strong stand against the proposed TikTok ban.
Last week Mr Trump met a major donor to the group, billionaire hedge fund manager Jeff Yass.
Kellyanne Conway, who was one of Mr Trump's top aides in the White House, has in recent months been lobbying for TikTok in Congress on behalf of the Club for Growth.
TikTok is one of the most popular apps in the US, especially among younger people.
The bipartisan bill passed a congressional committee last week by a vote of 50-0. It is expected to face a vote in the House this week.
The Senate must also vote to approve the bill before it could be signed into law.
