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The ban was justified by fears that Chinese owners Bytedance could reveal collected information to the Chinese regime.
While the new deal may seem like a success for Trump, the new proposal is far from a total victory for the president.
On the one hand, the Chinese side has not yet signed any documents and, on the other hand, Oracle and Walmart together would enter with a total of 20 percent. That would not guarantee them the full control that Donald Trump claimed.
Based in the United States
If the deal becomes a reality, the new Tiktok company would be based in the United States. Oracle will store the data and have responsibility for security. Walmart participates in the offer of its sales channels.
An estimated 25,000 people will be hired if the new proposal is approved, and the new company will pay taxes in the United States.
Chinese bytedance on the left
According to a New York Times source, the CEO of Tiktok’s current owner, Chinese Bytedance, will continue to serve on the new company’s board of directors.
