TikTok and WeChat Get Trump Approval to Avoid Shutdown

What Happened:

• 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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