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Reports: TikTok Sale to US Companies Dead After Trump’s Departure

Newsmax reports:

After former President Donald Trump threatened to ban the Chinese-owned video sharing app TikTok on national security grounds last year, its parent company ByteDance started to work out a deal for Oracle and Walmart to take over TikTok’s U.S. operations. But now, with Trump out of office, that deal appears to be dead.

“The deal was mainly designed to entertain demands from the Trump administration,” an unnamed source told the South China Morning Post. “But Trump is gone, and the raison d’ĂȘtre of the deal is gone with him.”

White House press secretary Jen Psaki said last week President Joe Biden’s administration has not taken a “new proactive step” against TikTok, which has over 100 million users in the U.S., according to Vanity Fair.

Trump and his Secretary of State Mike Pompeo were concerned that the app, which collects a large amount of user data, is required to share that information with the Chinese government if requested. Former TikTok CEO Kevin Mayer, however, claimed they were a Chinese company “in name only.”

The Wall Street Journal reported last week that the plan to force the sale of TikTok’s U.S. operations to a majority-U.S.-ownership group including Oracle and Walmart had been shelved as Biden undertook a review of Trump’s efforts to address the security risks posed by Chinese tech companies.

Discussions between representative of ByteDance and U.S. national security officials on data security and methods of preventing the Chinese government from accessing Americans’ data continue, the Journal reports.Related Stories:

Read Newsmax: Reports: TikTok Sale to US Companies Dead After Trump’s Departure | Newsmax.com
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