Trump approved the Oracle deal for TikTok!
The Oracle deal for TikTok operations is allegedly accepted by President Trump.
According to the Bloomberg report, President Donald Trump has given his stamp of approval to the Oracle bid on the wildly successful social media app, TikTok, for the U.S. operations. Trump said, "I have given the deal my blessing, I approved the deal in concept" as he left the White House for a North Carolina campaign Saturday, according to the Bloomberg report.
Trump administration requested that TikTok 's U.S. operations be spin-off from its parent company Bytedance on the basis that the company's data management practices and prominence in the U. S. constituted a national security threat.
The President pushing to cut applications tied to China has also accompanied the suspected pranking of the TikTok users, which transformed a presidentials initiative that cost Trump's campaign manager Brad Parscale a victorious rally for the president in Oklahoma.
That said, many Chinesse technology firms have been trying to curb the operations of the US because they pose threats to security in the USA. Indeed, TikTok's presidential order requested that the operation of the wecha service, operated by Tencent – one of the most powerful Chinese technology firms – be stopped in the U.S. And the United States government also threatens Huawei, the hardware pioneer for telecommunications and networking.
According to statements of Treasury Secretary Steven Mnuchin earlier this week, a new company named TikTok Global will be formed as part of the agreement to be accepted with TikTok. Bloomberg said Trump said that the company's new headquarters will be located in Texas, recruiting up to 25,000 employees and offering $5 billion for US education.
And the chain of dominance by U.S. technology firms has reportedly expanded to include several of the world's biggest U.S. gaming companies, sponsored by Tencent.
As the head of Instgram, Mr Mosseri, noted in a series of Friday tweets, this may be especially bad for U.S. technology firms. Commenting about this, Mosseri wrote:
“A US ban of TikTok would be meaningful step in the direction of a more fragmented nationalized internet, which would be bad for US tech companies which have benefited greatly from the ability to operate across borders,”