Connect with us

Business

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

Published

on


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. .

ORACLE, TIKTOK CASE IMMINENT DECISION

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.

TRUMP SAYS THERE WILL BE NO EXTENSION OF TIKTOK DEADLINE

“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.

GET FOX BUSINESS ON THE ROAD BY CLICKING HERE

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.

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos



picture credit

ExBUlletin

to request, modification Contact us at Here or [email protected]

Please disable the ad-blocker on this page to see the content

plus