President Donald Trump of the United States of America has given his blessings to a new deal which will see Media App TikTok partnering up with Oracle and Walmart.
Donald Trump drastically changed his tune Saturday, telling reporters at the White House he’d given the deal his “blessing” while going on to sing Oracle and Walmart’s praises as trustworthy partners in guarding Americans’ data and privacy.
Trump backs proposed TikTok deal with Oracle, Walmart: “It will have nothing to do with China. It will be totally secure.” pic.twitter.com/gvOYJVhmaz
— Breaking911 (@Breaking911) September 19, 2020
The terms and conditions means alot to the president. Newshubgh.com discovered that:
The deal would involve TikTok becoming a global company headquartered in America, with Oracle taking responsibility for U.S. operations and user data and ByteDance retaining majority ownership.
The new entity would have a separate board, on which Walmart would control one seat, the sources said.
Officially, Oracle is part of a proposal, which has now been accepted, submitted by ByteDance to the U.S. Treasury Department to serve as ‘trusted technology provider’ to the Chinese company, providing no further details on the terms of the deal.
President Trump went on to guarantee the American version of the app would NOT be in any way affiliated with China, and that security would be a top priority.
Trump also said TikTok would be ponying up $5M in charity money toward education causes, and would pay a lot of taxes.
Just a day prior, Trump was promising TikTok, as well as WeChat, wouldn’t be available to download come Sunday — because he was unhappy with the initial terms Oracle and TikTok had come to last weekend.
TikTok had actually resorted to legal action to stop the de facto ban, but it would seem talks over the past 24 hours — not to mention the inclusion of Walmart — made the guy cozy up to the idea.
TikTok itself appeared to confirm the news they weren’t going anywhere, saying they were pleased that the deal had addressed Trump’s national security concerns.
— TikTok_Comms (@tiktok_comms) September 19, 2020