Looking into Oracle-TikTok deal to make sure no compromise on nationwide safety: Trump

Washington, September 17

US President Donald Trump has stated he’s trying into American main Oracle’s reported bid for the Chinese-owned video-sharing app TikTok and need to guarantee there isn’t a compromise on nationwide safety earlier than approving the deal.

Last month, Trump signed an government order to ban TikTok and WeChat by September 15 until the possession of the 2 Chinese corporations modified to American.

Initially, Microsoft was concerned in talks with ByteDance that owns the TikTok platform. However, now Oracle has entered right into a deal on this regard with ByteDance.

Trump advised reporters on the White House that earlier than approving the deal, he want to be certain that there isn’t a compromise on nationwide safety and that the US Treasury will get a big chunk of the enterprise transactions.

He is scheduled to obtain a briefing from his officers on Thursday.

“They’re giving me studies on the deal. Has to be 100 percent as far as national security is concerned. And no, I’m not prepared to sign off on anything. I have to see the deal. We need security especially after what we’ve seen with respect to China and what’s going on,” Trump stated in response to a query Wednesday.

At the identical time, he conceded that there are authorized challenges within the Treasury receiving cash from this deal.

“We are going to see about that. Amazingly, I find that you’re not allowed to do that. You’re not allowed to accept — what kind of a thing is this?” he requested.

“They’re willing to make a big payment to the government and we’re not allowed to take their money. When does this happen? How foolish can we be? So we’re looking into that right now,” he stated in response to a query.

Trump stated he wished an enormous chunk of that cash to go to the US authorities as a result of it was his administration that made it doable.

“The lawyers come back to me and they say, well there’s no way of doing that. You know why? Cause nobody has ever heard of that before. Nobody has ever said that before. Nobody has ever said, well we approve the deal. But we want a lot of money to go to the government because by approving the deal we’re making the deal valuable. They’ve never heard of that before. OK? Can you believe that, right? Hard to believe,” he stated.

In response to a different query, Trump stated he doesn’t like ByteDance having a majority stake.

According to the proposal submitted by ByteDance, it could maintain a majority stake and Oracle would have a minority stake, information reviews have stated.

“We will find out about that. We are looking at that from the standpoint of ByteDance. We don’t like that. I mean just conceptually I can tell you I don’t like that. That has not been told to me yet. That has been reported but it has not been told to me. It could be very accurate reporting for a change. So if that’s the case I’m not going to be happy with that. Assuming that ByteDance is China which I think it probably is,” Trump stated. PTI

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