WASHINGTON: US President Donald Trump said he supports a deal that would allow TikTok to continue to operate in the US, after threatening to ban the Chinese-owned app in August.
He told reporters at the White House he backs the deal with Oracle and Walmart that would see the creation of a new company that would assume TikTok’s U.S. operations.
Trump said the new TikTok company will be “totally controlled by Oracle and Walmart…All of the control is Oracle and Walmart.”
Trump offered strong support for the deal he said would create 25,000 U.S. jobs. “I have given the deal my blessing,” Trump said. “I approve the deal in concept.”
Data concerns
About 100 million Americans use TikTok and US officials have expressed concern about user data and the potential for China to access that data. “The security will be 100 per cent,” Trump told reporters.
Oracle and Walmart are expected to take significant equity stakes and ByteDance – TikTok’s parent – has agreed to significant security safeguards on the data of US users with Oracle housing all data and getting the right to inspect the TikTok source code.
TikTok, Oracle and Walmart did not immediately comment.
Trump said the new company would most likely be incorporated in Texas and have at least 25,000 employees. China still must approve the deal. “We’ll see whether or not it all happens,” Trump said.