Trump Executive Order Will Hand TikTok Over to US Investors
President Trump has signed an executive order that will transfer the control of TikTok's US operations to Oracle and other American investors. This move comes after several rounds of negotiations and deadline extensions. The order aims to address the administration's concerns about the popular video-sharing app's potential national security risks due to its Chinese ownership. Under the new arrangement, TikTok's US business will be owned by a newly formed company, with Oracle and Walmart acquiring a significant stake. The deal is subject to further approval by the US government and the Chinese authorities. The decision marks a significant shift in the ongoing tensions between the US and China over technology and data security issues.
Source: For the complete article, please visit the original source link below.
