President of the United States, Donald Trump, has signed off on an agreement with Bytedance’s deal with Oracle to keep TikTok operating in the US. “I have given the deal my blessing, if they get it done that’s great, if they don’t that’s fine too, I approved the deal in concept, “said Mr. Trump. He also went on to add that TikTok Global will be completely controlled by Walmart and Oracle and that the security would be 100 percent.
In a press release, TikTok confirmed this news by stating that the new deal aims to “resolve the security concerns of the US Administration.” Under this proposal, Oracle will become TikTok’s ‘trusted technology provider’. There are talks of a commercial relationship with the renowned retailer Walmart. In a joint statement, Walmart and Oracle said, “All the TikTok technology will be in possession of TikTok Global, and comply with U.S. laws and privacy regulations.” To give the companies more time to finalize the finer details of the deal, the order to remove TikTok from Apple and Google’s app store in the US will be delayed till the 27th of September added the commerce department of the United States of America.
According to Mr. Trump, the new deal allows ByteDance to keep control of the video algorithm that recommends videos to its users but would ensure that China has no influence. This deal comes after POTUS had threatened to ban Chinese apps multiple times owing to security concerns over the course of the past two months.