Sputnik news agency reports that U.S. President Donald Trump has just told reporters that he approved a partnership agreement between Oracle and TikTok.
“This deal has my blessing,” Trump said. “I’ve conceptually approved it.”
“I have great news,” Trump told reporters, ABC reported, noting that in addition to Oracle, the deal would include Wal-Mart, “a very great American company,” and that “security will be 100 percent.” Mr. Trump also announced that the deal included a $5 billion donation to an education program. “They’re going to set up a big fund for the education of young people in America, and that’s great, that’s what I’m asking for, and we’ll see if that happens.”
Oracle will become TikTok’s partner in data security compliance, the World Wide Web has learned. The two sides will carry out data security compliance cooperation similar to that conducted by Apple in Guizhou on cloud in China. Because TikTok USA has an office in Los Angeles, California, the solution is also known as “California on the cloud”. TikTok will continue to use the United States as its headquarters, and the TikTok team will continue to expand, creating 25,000 new jobs as the business grows. TikTok is also joining forces with companies to create a $5 billion Global Education Foundation to improve global education through technology and online video.
Mr Trump also unilaterally declared that the new company had “nothing to do with China” and would be “perfectly safe to be controlled by two great American companies, Oracle and Wal-Mart”, according to Bloomberg. But under the deal, Bytedance retains most of TikTok’s assets and control of its algorithms, with Oracle and Wal-Mart likely to hold only a minority stake.
The US Department of Commerce announced on Monday that it has decided to ban downloads and updates from TikTok’s app store in the US starting this Sunday, and will ban TikTok’s services in the US starting on November 12.
In response, TikTok said, ‘We oppose this decision and are deeply disappointed.’ Hundreds of millions of US users form a community that loves TikTok because it gives them joy, allows them to express themselves and connect with others. TikTok is dedicated to protecting the privacy and security of its users, making people laugh, and helping platform creators build meaningful careers. The TikTok proposal promises transparency and accountability efforts, including third-party auditing, code security verification, and allowing the U.S. government to monitor the security of U.S. user data. In addition, the U.S. technology provider will be responsible for TikTok’s U.S. users’ data storage, maintenance and compliance.
The response also said that previous executive orders issued by the US government without due process could deprive Americans and small businesses of an important platform for voice and survival. To this end, TikTok will continue to pursue litigation to protect the legitimate rights and interests of its users, creators, partners and the company.
The Trump administration was not immediately available to comment on whether the ban would be enforced on Sunday.