'Not ready for Oracle-TikTok deal,' Donald Trump questions Chinese tech firm ByteDance's plan to keep majority stake
4 years, 3 months ago

'Not ready for Oracle-TikTok deal,' Donald Trump questions Chinese tech firm ByteDance's plan to keep majority stake

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The US government is currently evaluating a proposal from ByteDance and Oracle designed to resolve the Trump administration’s national security concerns about TikTok Washington: US President Donald Trump said on Wednesday he wasn’t ready to approve a deal for an American company to partner with Chinese-owned video app TikTok, which would allow it to continue operating in the United States. I need to see the deal,” Trump told reporters ahead of the 20 September deadline for TikTok’s owner ByteDance to sell its US operations or face the app’s shutdown in the country. Citing unnamed sources, Bloomberg reported earlier in the day that Oracle’s proposal fell short of addressing the Trump administration’s concerns over national security, though the deal remains under discussion. TikTok said in a statement that “we’ve submitted a proposal to the Treasury Department which we believe would resolve the Administration’s security concerns” and allow the app to continue to be used by 100 million people in the US.

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