President Donald Trump Agrees To TikTok-Oracle-Walmart Partnership
As a deadline loomed for TikTok to shut down its US operations, President Donald Trump said Saturday he has agreed in concept to a deal under which Chinese-owned app TikTok can continue.
Trump said a partnership with Oracle and Walmart that will make the video-sharing company and its data US-based has won him over.
“I have given the deal my blessing, if they get it done, that’s okay too, if they don’t, that’s fine too,” Trump told reporters at the White House on Saturday.
Trump said the deal will create 25,000 jobs, and that the new US version of TikTok “will have nothing to do with China.” He said Oracle and Walmart will set up a $5 billion fund to educate young Americans, but didn’t elaborate.
Trump voiced concerns over TikTok providing data on US citizens to the Chinese government. ByteDance insisted it would never do that.
Microsoft and Twitter also explored a deal with TikTok, but Oracle ultimately prevailed.
The Commerce Department on Friday issued regulations barring U.S. companies from providing downloads or updates for TikTok after 11:59 p.m. Sunday. That order also covers WeChat, another Chinese app that isn’t covered by the new TikTok deal.
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