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Trump to review Oracle-TikTok deal on Thursday, reaffirming security is paramount



President Trump said on Wednesday he would review the deal between Oracle and the Chinese video app TikTok on Thursday and added that it “must be 100% secure” from a national security perspective before it can sign it.

A reporter asked Trump in his briefing if he would sign the deal even if the US Treasury wouldn’t gain anything from it and asked if the national security issue was up to the task.

“They give me studies on the agreement. It must be 100% with regard to national security, ”the president said.

“I’m not ready to sign anything. I have to see the deal, ”Trump said. “We need security especially after what we have seen with regard to China.”

The Treasury Department’s Committee on Foreign Investments in the United States, also known as CFIUS, met with officials from Beijing-based ByteDance on Tuesday and Trump said he would review studies of the deal on Thursday. .


The proposed deal is less a sale than a partnership – Oracle, a software company close to the White House, would become a “trusted technology partner.”

Oracle believes that even if they don’t own the product, the deal will address national security concerns as they will control the app, and since it’s in their cloud, they can protect it from Chinese influence.

Oracle shares are approaching an all-time high and have gained 15% this year.

Trump previously stressed that a “large percentage” of the sale should go to the US Treasury.


“I’m going to tell you that there is a lot of enthusiasm at Microsoft and others so we’ll see what happens,” Trump said at a White House press briefing in August. “But we deserve that a large percentage of that price goes to the treasury.”

The Trump administration has weighed the fate of TikTok since last year, launching an investigation into the short-video company, fearing that ByteDance is sharing information about its clients with the Chinese Communist government.

For nearly six weeks, Microsoft and Oracle have offered different approaches to this sale with the Chinese government, further complicating matters with recently announced controls on data sharing with foreign companies.

With that, Microsoft’s plan to buy TikTok and completely secure it in its cloud fell through and Oracle came up with a plan in which it essentially created a joint venture with a group of US investors to license the app. Tiktok from its Chinese owners, while Bytedance maintains ownership of the app’s and platform’s overarching algorithm.

Oracle’s approach is seen as controversial by some in the Trump administration because it fell short of the president’s initial standard that any deal for TikTok’s U.S. operations has no Chinese implication.

Other administration officials such as Treasury Secretary Steve Mnuchin, who chairs CFIUS, are said to favor the Oracle approach because it is a quick fix to a politically thorny problem during an election year.


It is not known if there will be a purchase price in the partnership. Oracle and its group of investors will pay a sum of money, but only in the form of a license fee which will be remitted to ByteDance.

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