The controversy over TikTok continues. In the race to acquire the role of US operations of the video app TikTok, Oracle Corp. won out over tech giant Microsoft. Next up, the deal must gain the approval of the White House. It was noted that the “deal is likely not to be structured as an outright sale” but rather a partnership. Steven Mnuchin, the US Secretary of Treasure, stated that “the Treasury-led Committee on Foreign Investment in the U.S. would review it this week.” Their number one requirement is that the data of Americans is secure, he said. The app, owned by Chinese company ByteDance, is said to have 100 million users in the US and nearly 700 million worldwide.
at this point i want trump to ban tik tok it takes up way too much of my time— naya torres (@nayatorres06) September 12, 2020
President Trump has previously been firm in his stance regarding the app. “There is credible evidence that leads me to believe that ByteDance might take action that threatens to impair the national security of the United States,” he said in a statement. One Republican senator suggested that Trump deny the proposal, therefore pressuring TikTok into selling the company outright to a US buyer. He added:
“Or perhaps, given constraints imposed by Chinese law, the only feasible way to maintain Americans’ security is to effectively ban the TikTok app in the United States altogether.”Josh Hawley, Missouri State Senator
Brian Fung, writing for CNN Business, called Trump’s decision regarding TikTok one “that’s now led to the apparent benefit of a major political backer,” referring to Oracle co-founder Larry Ellison. He added that Microsoft “played the politics with Trump fairly well compared to most corporations. But not as well as Larry.”
“Of the many questions still revolving around the fate of TikTok, the biggest one may be if the Trump administration will approve a restructuring plan that keeps China-based ByteDance in control, both financially and operationally, in the U.S. If you go by his words, President Donald Trump has already ruled this option out.”Alex Sherman, reporter covering technology, media and telecommunications at CNBC
An article from The New York Times suggested that Trump could receive pushback from both sides should he allow the deal to go through.