Trump: "TikTok Acquisition Plan Approved... Will Be Controlled by Oracle + Walmart"

"A Great Deal for the American People"

[Asia Economy Reporter Naju-seok] U.S. President Donald Trump announced that he would approve Oracle's acquisition of the Chinese video-sharing application service 'TikTok.' With this decision, TikTok will be able to continue its service within the United States.

[Image source=EPA Yonhap News]

On the 19th (local time), President Trump said, "I approve the deal in principle." During a meeting with reporters at the White House that day, he mentioned, "I bless the deal with Oracle."

The U.S. had expressed concerns about TikTok, operated by a Chinese company, being used within the U.S., worrying not only about user information but also about China's potential access to this data.

Regarding this, he said, "The security issue will be 100% resolved," adding, "In principle, it will be a great deal for Americans." President Trump also mentioned, "TikTok will be controlled by Oracle and Walmart."

Oracle had previously prepared an agreement regarding the acquisition of TikTok, but President Trump rejected it, stating that the security threat had not been resolved. Eventually, the U.S. government issued an executive order banning the download and use of the Chinese video-sharing app TikTok and the messenger app WeChat within the United States.

The U.S. government proposed restricting downloads of both TikTok and WeChat, followed by a ban on their use starting in November.