President Trump says the deal on TikTok could go fast and there are some great options. Earlier the same day, his administration announced plans to block the short video sharing app from being downloaded in the United States.
President Trump said on Friday (May 18) that a deal on TikTok could happen soon and that there are a number of options for a deal.
Asked by a reporter whether he expects to reach a TikTok acquisition agreement before the presidential election or after the election, Trump replied, “I think it could happen very quickly. We have amazing companies talking to us about it. You know Oracle. You know Microsoft has been involved. Let’s see if they stay involved. Wal-Mart is a really great company. They’re deeply involved. They want to do something.”
Trump added, “We have some great options, and we can probably satisfy a lot of people, but have the security that we need. We have to have the complete security that we need to guard against China. You know we’re not going to do anything that compromises security.”
He added, “At the same time, it’s an amazing company and very popular. So we can do both. I would be happy to do that. It could go very quickly. It could go very, very quickly.”
The U.S. Commerce Department issued an order Friday banning the downloading of WeChat (Weixin Overseas) and TikTok (Shakespeare Overseas) applications starting Sept. 20 for national security reasons. The Commerce Department said, “The CCP has demonstrated the means and motivation to use these applications to threaten the national security, foreign policy, and economy of the United States.”
The U.S. Department of Commerce announced that any provision of Internet hosting services for the WeChat mobile app in the U.S. will be banned come September 20, 2020, and that the mobile app will be made functional or optimized in the U.S., but that similar measures against TikTok will be implemented on November 12, 2020.
TikTok’s Chinese parent company, ByteDance, had previously been in talks to merge with Microsoft, but later reached an agreement with Oracle to partner with the company. The U.S. government is considering a partnership agreement between TikTok and Oracle.
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