TikTok and WeChat Get Trump Approval to Avoid Shutdown
On Saturday, Trump said he supported a deal between TikTok parent company ByteDance and Oracle and Walmart that would allow TikTok to continue operating in the United States. In the new deal, a separate company, TikTok Global, would be formed and 20% of the ownership would be controlled by Oracle and Walmart. US user data would be stored by Oracle on its' cloud.
Trump said he would still need to see all of the details, but that, in principle he supported the deal.
The approval allows TikTok and WeChat to avoid a looming ban from US App stores that was set to be enforced on Sunday.
The US government has long cited privacy concerns with the Chinese owned apps saying they collect data from American users that can be accessed by the Chinese government.
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