Donald Trump says he approves Oracle’s deal with TikTok in principle
- Move follows finding that deal fails to address data privacy concerns that raised national security issues
- ‘It'll be totally controlled by Oracle and Walmart,’ Trump said. ‘The security will be 100 per cent’
US President Donald Trump said on Saturday he has approved the Oracle Corporation’s proposed deal with TikTok for the Chinese video-sharing app to continue to operate in the US, after threatening to ban the app from the country in August.
Trump told reporters at the White House that he has “given the deal my blessing” as he left for a campaign rally in Fayetteville, North Carolina: “I approved the deal in concept,”
“It'll be totally controlled by Oracle and Walmart. All of the control is Walmart and Oracle, two great American companies,” Trump said. “The security will be 100 per cent.”
TikTok Global will likely be headquartered in Texas and will hire at least 25,000 people, Trump said.
01:46
Oracle reaches deal to become TikTok’s ‘technology partner’, after Microsoft offer is rejected
The comment came a day after the Commerce Department announced that new downloads of the app would be banned on Sunday.