World Trump says Oracle's TikTok deal 'has my blessing'
As deadline looms, scramble on TikTok deal structure
Amid a looming deadline set by President Donald Trump, negotiators scrambled to find a new ownership structure for the popular video app TikTok that would pass muster in both the United States and China. Trump said Wednesday he was undecided and still considering the national security implications of any new structure for the wildly popular app, which has an estimated 100 million users in the United States and as many as one billion worldwide. © NICOLAS ASFOURI Silicon Valley tech giant Oracle is working on deal to become the US partner to Chinese-owned video app TikTok to avert a ban in the United States Some analysts said it appeared difficult to craft a
US President Donald Trump has expressed his approval of a deal that would allow Chinese-owned video-sharing app TikTok to continue operating in the US.
Mr Trump told reporters he had given his "blessing" to a partnership between TikTok and US firms Oracle and Walmart.
The president had ordered the app to be banned in the US, citing national security concerns.
What Trump's TikTok Ban Means For Users
TikTok restrictions start on September 20 but will initially apply to new downloads and software updates, meaning the app will continue to work as normal for existing users—at least until November 12.As of this Sunday, September 20, the Trump administration will prohibit distribution and maintenance of TikTok through mobile app stores in the U.S.
US security officials fear data collected by TikTok's owner may be handed to the Chinese government.
TikTok's owner, ByteDance, has denied accusations that it is controlled by or shares data with China's ruling Communist Party.
On Saturday, Mr Trump said the deal would ensure the data of the estimated 100 million Americans who use the app was safe, telling reporters: "The security will be 100%."
"I have given the deal my blessing," Mr Trump said as he left the White House ahead of an election rally in North Carolina. "I approve the deal in concept."
ByteDance has not yet commented on the proposed TikTok deal, which would need further approval by the Chinese government.
China Says TikTok Parent Company ByteDance Said It Had Only Learned About Trump Deal in the News
The president has said he has agreed to a deal to allow the social media platform to continue operating in the United States.President Donald Trump said Saturday he supported "in concept" an arrangement which would see TikTok move to be owned by a new company, TikTok global, which Oracle and Walmart will both have shares in.
President Trump's support for the deal comes days after his administration said it would bar people in the US from downloading TikTok through any app store from Sunday.
However, the US Commerce Department said it had now delayed this deadline for a week until 27 September in the "light of recent positive developments",
The row over TikTok comes at a time of heightened tensions between the Trump administration and the Chinese government over a number of issues, including trade disputes, protests in Hong Kong and Beijing's handling of the coronavirus outbreak.
What is the proposed deal?
The deal would see the establishment of a new company, dubbed TikTok Global, Reuters news agency reported on Thursday. That company would have a majority of American directors, a US chief executive and a security expert on the board.
Oracle and Walmart are expected to take significant stakes in the company, and ByteDance has agreed to security safeguards on the data of US users. TikTok's data would be stored by Oracle, which would have the right to inspect its source code.
TikTokers are making thirst videos about Draco Malfoy and 'Harry Potter' star Tom Felton had the best response
"Harry Potter" star Tom Felton shared a joke reaction video to a trend created by Draco Malfoy-obsessed fans on TikTok. #DracoTok, as its known, is a collection of TikToks with over 600 million combined views. One week ago, Felton commented on a couple of the videos, sending his fans into a frenzy. Now he's uploaded his own reaction video to #DracoTok, and told fans, "Hide nothing, I find this all hilarious!" Visit Insider's homepage for more stories. After an increasing amount of interaction with the #DracoTok trend on TikTok, "Harry Potter" actor Tom Felton just took everything to the next level.
President Trump said the new TikTok company will be "totally controlled by Oracle and Walmart".
The deal, Mr Trump said, would provide new jobs and tax revenue for the country.
What is TikTok?
TikTok is a video-sharing app. Users can post up to a minute of video and have access to a vast database of songs and filters.
They use the app to share 15-second videos that often involve lip-synching to songs, comedy routines and unusual editing tricks.
The app collects a huge amount of user data - including what videos people watch and comment on, location data, phone model and even how people type. But much of this data collection is similar to other social networks like Facebook.
The app is reported to have around 800 million active monthly users worldwide, most of whom are in the US and India.
India has already blocked TikTok as well as other Chinese apps. Australia, which has already banned Huawei and telecom equipment-maker ZTE, is also considering banning TikTok.
More on TikTok:
China Accuses U.S. Of 'Shamelessly Robbing' TikTok and Warns It Is 'Prepared to Fight' .
"This is blunt bullying. It's a robbery of Chinese company's achievements under the guise of security," the editorial by state mouthpiece, the Global Times, said.Reacting to the news that a federal judge granted a preliminary injunction to TikTok and its parent company ByteDance on Sunday, saving it from being booted from mobile app stores in the U.S., the Global Times criticized the Trump administration.