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There was another boast that US President Donald Trump would inform voters six weeks before the US presidential election (November 3).
In the process of selling the video service ‘TikTok’ owned by a Chinese company to the US, President Trump prevented the leakage of personal information of 100 million US users to China, while promoting that many jobs were taken Americans. Because there is. The new company, to be created through the sale, will be located in Texas and will create 25,000 American jobs. Texas occupies a very important position among the races of the presidential elections of the United States. If the sale is finalized after remaining procedures in the United States and approval from the Chinese government, it is likely to become a ‘jackpot’ before the presidential election for President Trump.
President Trump announced on the 19th (local time) that China’s Byte Dance, which owns the video app TikTok, has approved the sale of TikTok to US IT conglomerate Oracle.
On the 18th, the Ministry of Commerce announced that it would ban new TikTok downloads starting on the 20th and would enforce a complete ban starting on November 12. Until now, Byte Dance has been discussing the sale of TikTok to Oracle and Wal-Mart, but has encountered difficulties over concerns about the leakage of personal information of 100 million US users to China and the initiative of a new company.
The basis for the US Department of Commerce’s TikTok ban was the US International Emergency Economic Authority Act (IEEPA). It is a law that gives the president powerful authority to restrict private economic transactions in emergencies such as terrorism. In other words, it is possible to interpret that Trump has taken a step forward to prevent China’s Byte Dance from having US consumer information by maintaining his influence even after the TikTok sale of his US business. In the process of selling TikTok to Oracle, Byte Dance may have been a pavement for the negotiations to advance with an advantage on the US side.
Under the sale agreement, the newly created ‘TikTok Global’ will be 53% owned by the US, including Oracle and Wal-Mart, and TikTok’s parent company Bytedance has agreed that Oracle has the right to inspect the source code. In other words, the US has the authority to monitor whether TikTok customer information is leaked to China. The new company is based in Texas, and the majority of the directors are American and the CEOs are American. According to Trump’s press conference, TikTok Global employs 25,000 new employees and is expected to contribute $ 5 billion to the Youth Education Fund in the United States. President Trump said at a news conference about the sale: “A lot of jobs and money are coming to America. Happy everyone. “
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