According to CNN, Donnie has approved a deal between Oracle and TikTok that will delay the ban of the app by one week.
“The Commerce Department confirmed in a statement Saturday evening that it would delay — by one week — restrictions that were originally to take effect on Sunday,” reported CNN.
Still needing a formal approval, the company will now be U.S. based, under the new agreement.
Trump stated, “I have given the deal my blessing. “If they get it done, that’s great. If they don’t, that’s okay, too.”
TikTok stated,
“As part of this proposal, Oracle will become our trusted technology provider, responsible for hosting all US user data and securing associated computer systems to ensure US national security requirements are fully satisfied,” TikTok said. “We are currently working with Wal-Mart on a commercial partnership as well. Both companies will take part in a TikTok Global pre-IPO financing round in which they can take up to a 20% cumulative stake in the company. We will also maintain and expand TikTok Global’s headquarters in the US, while bringing 25,000 jobs across the country.”
Trump also shared that TikTok would be based in Texas.
