Trump gives ‘blessing' to TikTok deal with Oracle

President says deal would create 25,000 jobs and new company could be based in Texas

Gino Spocchia
Sunday 20 September 2020 20:59
Comments
Trump suggests he tried to bribe TikTok
Leer en Español

Donald Trump has given his “blessing” to a proposed deal between Oracle and Walmart that will allow the video app TikTok to continue operating in the United States.

Speaking at the White House on Saturday, the US president said he approved of the proposals, having previously ordered TikTok to be banned in the US over national security concerns.

The proposed deal will see Oracle and Walmart partner with TikTok – currently owned by the Chinese firm ByteDance – to create a new company that will likely be based in Texas.

“I have given the deal my blessing,” he said to reporters. “If they get it done, that's great. If they don't, that's OK too.”

“The security will be 100 per cent,” he added. “Conceptually it’s a great deal for America.”

Oracle and Walmart could acquire up to a cumulative 20 per cent stake in the new company, that could hire some 25,000 people in the US, said Mr Trump.

The deal will make Oracle responsible for hosting all TikTok's US user data and securing computer systems to ensure national security requirements are satisfied.

Walmart said it will provide its ecommerce, fulfillment, payments and other services to the new company.

In a statement, TikTok said: “We are pleased that the proposal by TikTok, Oracle, and Walmart will resolve the security concerns of the US administration and settle questions around TikTok's future in the US.”

TikTok, which has 100 million US users, had been targeted by the Trump administration amid accusations the app was controlled by, or shared data with, China’s ruling Communist Party.

ByteDance, TikTok’s owners, repeatedly denied those claims amid rising tensions between Washington and Beijing on multiple fronts.

Following the proposed deal, the US Commerce Department has delayed banning TikTok from being downloaded in the US until 27 September. 

Additional reporting by Associated Press

Register for free to continue reading

Registration is a free and easy way to support our truly independent journalism

By registering, you will also enjoy limited access to Premium articles, exclusive newsletters, commenting, and virtual events with our leading journalists

Please enter a valid email
Please enter a valid email
Must be at least 6 characters, include an upper and lower case character and a number
Must be at least 6 characters, include an upper and lower case character and a number
Must be at least 6 characters, include an upper and lower case character and a number
Please enter your first name
Special characters aren’t allowed
Please enter a name between 1 and 40 characters
Please enter your last name
Special characters aren’t allowed
Please enter a name between 1 and 40 characters
You must be over 18 years old to register
You must be over 18 years old to register
Opt-out-policy
You can opt-out at any time by signing in to your account to manage your preferences. Each email has a link to unsubscribe.

By clicking ‘Create my account’ you confirm that your data has been entered correctly and you have read and agree to our Terms of use, Cookie policy and Privacy notice.

This site is protected by reCAPTCHA and the Google Privacy policy and Terms of service apply.

Already have an account? sign in

By clicking ‘Register’ you confirm that your data has been entered correctly and you have read and agree to our Terms of use, Cookie policy and Privacy notice.

This site is protected by reCAPTCHA and the Google Privacy policy and Terms of service apply.

Register for free to continue reading

Registration is a free and easy way to support our truly independent journalism

By registering, you will also enjoy limited access to Premium articles, exclusive newsletters, commenting, and virtual events with our leading journalists

Already have an account? sign in

By clicking ‘Register’ you confirm that your data has been entered correctly and you have read and agree to our Terms of use, Cookie policy and Privacy notice.

This site is protected by reCAPTCHA and the Google Privacy policy and Terms of service apply.

Join our new commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in