Donald Trump approved the application.
Back on August 7, Donald Trump signed an executive order to shut down TikTok in the United States, citing national security concerns. Only one condition could save the application from leaving the American market – the American division of TikTok came under the control of an American company, that is, TikTok was to be bought by a company from the United States.
Leaving the White House this Saturday, the President said:
“The security will be one hundred percent. I have blessed the deal. I approved it in principle, ”said Trump, referring to Oracle’s acquisition of TikTok.
Also, Vanessa Pappas, head of TikTok, on the same day posted a video in which she informed users that the application “is and remains.”
So far, the US Department of Commerce has postponed the planned introduction of a ban on downloading the application until September 27 inclusive.
What’s the bottom line?
The Chinese corporation ByteDance, which just owns the social network, will create a new company called TikTok Global together with the American Oracle and Walmart. And the headquarters of TikTok Global will eventually be located in the United States, presumably in the state of Texas. Oracle and Walmart said in a statement that the creation of the new joint company would generate more than 25,000 US jobs and about $ 5 billion in tax revenue per year.
The main employees and members of the board of directors will be Americans, and user data will go to Oracle services. Ultimately, ByteDance Corporation hopes the deal will comply with US and Chinese laws.
- The ban on downloading the application was supposed to take effect 45 days after the application (that is, on September 20). But, as we can see, this did not happen on the night from Sunday to Monday (on the day of the supposed blocking). Although the ban has not yet been officially lifted, the US Department of Commerce postponed the decision for a week.
Recall that at the end of June, the social network was blocked in India along with 58 other Chinese applications. And Australia, which has already banned the products of Chinese Huawei, is also considering blocking TikTok.