The government has spent months deliberating whether the lip-synching app is a national security risk. And after all the back-and-forth, it looks like both parties might have reached an agreement. "I have given the deal my blessing," Trump told reporters regarding Oracle's deal with TikTok. "I approve the deal in concept."
But then the President also said, "If they get it done, that's great. If they don't, that's okay, too." And the Commerce Department's official statement also isn't one of complete approval. They said on Saturday evening that they will be delaying the restrictions by one week.
Under the new proposed arrangement, Oracle will be handling all of the app's U.S. user data. Oracle CEO Safra Catz told CNN, "Oracle will quickly deploy, rapidly scale, and operate TikTok systems in the Oracle Cloud. We are a hundred percent confident in our ability to deliver a highly secure environment to TikTok and ensure data privacy to TikTok's American users, and users throughout the world. This greatly improved security and guaranteed privacy will enable the continued rapid growth of the TikTok user community to benefit all stakeholders."
The company is also partnering with Walmart to form "TikTok Global," which is an expansion of the ByteDance-owned company that will have its headquarters in the U.S. TikTok says that this also expected to bring 25,000 jobs across the country.