Trump Approves Deal for Purchase of TikTok
US President Donald Trump has approved a deal that will allow Chinese-owned video-sharing app TikTok to continue operating in US app stores.
Trump told reporters that he have given the deal his blessings to a partnership between TikTok and US firms — Oracle and Walmart, BBC reports.
The Commerce Department in a statement on Saturday confirmed that the ban would delay by one week.
TikTok issuing a statement confirmed Oracle and Walmart will together hold up to a 20 percent share, reports CNN.
Citing national security concerns, the president earlier said that the app would be banned in the US from Sunday.
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US security officials suspected the data that TikTok’s owner collected may be handed to the Chinese government.
However, TikTok’s owner, ByteDance, denied the allegation saying that it is controlled by or shares data with China’s ruling Communist Party.
Trump on Saturday said the agreement would ensure the data and told reporters: “The security will be 100%.”
“I approve the deal in concept,” he said.
Around 100 million Americans use the Chinese video sharing app.
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