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Trump “It will be a company that has nothing to do with China … US national security concerns fully resolved”
It seems unlikely that the Chinese government will oppose
The Wall Street Journal (WSJ) and others reported that US President Donald Trump approved on the 19th a plan to jointly acquire a 20% stake in the Chinese video app ‘TikTok’ by the US company. information technology (IT) company Oracle and distributor Walmart. If the US investor’s stake is added to this, the US will have 53% of the total stake in TikTok. As a result, two months after President Trump announced on July 31 that he would ban the use of TikTok in the United States for security reasons, the TikTok controversy entered the shutdown order.
President Trump said that day at the White House in Washington: “I approved this deal conceptually and I think it will be a fantastic deal.” “We have fully resolved our concerns about the national security of the United States. The new company will be a non-Chinese company and will be based in Texas and will employ 25,000 people. ”
Oracle and Wal-Mart will each own a 12.5% and 7.5% stake in the new company, and the Americans will take over the majority of the new company’s board of directors, including Doug McMillan, Walmart’s chief executive officer. TikTok Global will donate $ 5 billion (about 6 trillion won) to the US education fund, WSJ said.
Texas, where TikTok Global will be located, is the backyard of the ruling Republican Party, but the recent surge in the approval rating of former Vice President Joe Biden, the opposition Democratic presidential nominee, is unusual. It is analyzed that President Trump’s publicity of the company’s job creation effect in front of reporters on the day is also to capture Texas voters ahead of the November 3 presidential election. It is noted that Oracle’s TikTok ownership of Microsoft (MS), which was initially seen as a strong acquisition, is not alien to the president. Founder Larry Ellison held a fundraising event for President Trump’s re-election in February of this year. Executive Director Safra Katz also served on President Trump’s inauguration committee. The Chinese government is also expected to raise no objections. Hu Si-jin, editor-in-chief of the state-run welcome time, who is known as an unofficial spokesman for the Chinese government, told Weibo on the 20th: “We escaped the worst situation of having to sell all of TikTok to United States or deliver all core algorithms. Since the target for sale is missing a core algorithm, the approval process by the Chinese government will be skipped.
The Chinese Ministry of Commerce targeted the United States a day ago, allowing foreign companies and individuals that harm China’s sovereignty, security and interests to be designated as “unreliable companies.” However, the company did not reveal the specific name of the company and the Trump administration approved the plan to sell TikTok.
New York = Yoo Jae-dong [email protected] Go to reporter’s page> / Beijing = Correspondent Kiyong Kim
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