President Trump says he approved in concept a deal that would continue to allow TikTok to continue operating in the U.S., in which the Chinese-owned company would partner with Oracle and WalMart to become a U.S. based company.
“I have given the deal my blessing, if they get it done that’s okay too, if they don’t that’s fine too,” Trump told reporters at the White House on Saturday, according to the Wall Street Journal.
On Friday, the U.S. Department of Commerce previously announced that app downloads of TikTok and WeChat would be blocked in the U.S. through Trump’s executive order.
“They’re going to report the full scope of the deal very soon, very soon. But it’ll be totally controlled by Oracle and WalMart,” Trump added Saturday. He further said (via the Wall Street Journal) that the deal would produce 25,000 new jobs, mainly in Texas, and that the two companies would be setting up a $5 billion fund to educate young Americans, but did not expand on those details.
More to come…