TikTok Avoids US Ban as Trump Backs Oracle-Walmart Partnership
President Trump gives his approval to a deal that averts a looming TikTok ban in the United States. The new agreement involves a partnership with Oracle and Walmart to address national security concerns.
President Trump officially gives his blessing to a deal that prevents an immediate ban on TikTok in the United States. The agreement involves a partnership between the popular video app and American companies Oracle and Walmart, which creates a new corporate entity called TikTok Global.
This proposed structure aims to satisfy national security concerns by moving TikTok's data hosting and operations onto servers based in the US. Oracle serves as the technology partner to secure the data, while Walmart takes an ownership stake and plans to integrate e-commerce features into the social media platform.
Despite the presidential approval, the exact details of the ownership structure remain somewhat unclear and face ongoing regulatory scrutiny. Chinese parent company ByteDance still holds a significant stake in the new venture, which leaves some lawmakers skeptical about whether the deal truly separates TikTok from foreign influence.