US President Donald Trump is likely to make a decision on TikTok’s fate in the United States within 24 to 36 hours. Sources told the American news channel CNBC.
The sources also expect supermarket group Walmart to collaborate with software company Oracle in a deal around TikTok. In addition, Oracle will own about 20 percent of the social media app, according to insiders.
The US government ordered ByteDance to sell the US branch of TikTok to a US party because otherwise there are fears that user data will reach the Chinese government through the parent company. If this is not done before September 20, the app popular among young people will be banned in the US.
Trump already indicated on Wednesday night that he was not satisfied with ByteDance’s proposal to collaborate with Oracle, because ByteDance would remain in control of TikTok. ByteDance is also awaiting approval from China.
White House Chief of Staff Mark Meadows said on Thursday that he is concerned that the deal with Oracle is merely a “repackaging” of the US TikTok arm and that the proposal is not enough to meet Trump’s demand.
“My major concern is that the company is still mainly run by the Chinese government and that it does not meet national security thresholds,” said Meadows.
Sources reportedly told the American news channel NBC that when the deal is approved, TikTok will become a global company with its headquarters in the US.
According to insiders, the US Treasury Department has reached provisional agreement with Bytedance and Oracle. Also, US user data would be entrusted exclusively to Oracle.