Politics

Trump backs proposed TikTok deal with Oracle, Walmart

The logo for ByteDance Ltd.'s TikTok app is arranged for a photograph on a smartphone in Hong Kong, China, on Friday, Aug. 7, 2020. President Donald Trump signed a pair of executive orders prohibiting U.S. residents from doing business with the Chinese-owned TikTok and WeChat apps beginning 45 days from now, citing the national security risk of leaving Americans' personal data exposed. Photographer: Ivan Abreu/Bloomberg via Getty Images

WASHINGTON (AP) — President Donald Trump said Saturday he’s given his “blessing” to a proposed deal between Oracle and Walmart for the U.S. operations of TikTok, the Chinese-owned app he’s targeted for national security and data privacy concerns.

Trump said the proposed deal will result in a new company likely to be based in Texas and under the control of U.S.-based Oracle and Walmart.

“I have given the deal my blessing,” he said. “If they get it done, that’s great. If they don’t, that’s OK too.”

Trump has been targeting TikTok, a video app popular with younger people, as well as WeChat, another Chinese-owned app. The dispute over the two apps is the latest flashpoint in the rising tensions between the world’s two largest economies.

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