TMTPOST -- U.S. President Donald Trump reveals more about possible deal of TikTok after he gave the popular short video application a 75-Day Reprieve from a ban in the country.
Credit：China Central Television
Trump on Monday told reporter Microsoft Corporation was in talks to take over TikTok. He also suggested he would like to see a bidding war over the application.
Microsoft didn’t comment on Trump’s remark, nor did TikTok or its Chinese parent ByteDance Ltd.
The Trump administration is working on a plan to save TikTok that involves Oracle Corporation and a group of potential outside investors include Microsoft to take control of the app’s global operations, NPR reported Saturday. Under the negotiated deal, ByteDance would keep a minority stake in TikTok, but its algorithm, data collection and software updates will be overseen by U.S. software heavyweight Oracle, according to the report. It said that the deal would effectively make American investors major shareholders of TikTok and minimize Chinese ownership.
Retuers later Saturday reported Trump said he was discussing with many people over acquiring TikTok and could make a decision on its future in the coming 30 days. "I have spoken to many people about TikTok and there is great interest in TikTok," Trump told reporters on Air Force One during a flight to Florida.
However, Trump denied any talks with Oracle. "No, not with Oracle. Numerous people are talking to me, very substantial people, about buying it and I will make that decision probably over the next 30 days,” the president responded to a question about whether if he was putting together a deal with Oracle and other investors. He added “Congress has given 90 days. If we can save TikTok, I think it would be a good thing."
Trump on January 20, his first day in office, issued an executive order to suspend application of the Protecting Americans From Foreign Adversary Controlled Applications Act (the “Act”) to TikTok temporarily. “I am instructing the Attorney General not to take any action to enforce the Act for a period of 75 days from today to allow my Administration an opportunity to determine the appropriate course forward in an orderly way that protects national security while avoiding an abrupt shutdown of a communications platform used by millions of Americans,” Trump said in the executive order.
During the 75 days, the U.S. Department of Justice shall take no action to enforce the Act or impose any penalties against any entity for any noncompliance with the Act, the executive order said.
In order to fulfil the constitutional responsibility for the national security of the United States, Trump intends to consult with my advisors, including the heads of relevant departments and agencies on the national security concerns posed by TikTok, and to pursue a resolution that protects national security while saving a platform used by 170 million Americans, according to the executive order.
The Trump Administration must also review sensitive intelligence related to those concerns and evaluate the sufficiency of mitigation measures TikTok has taken to date, per the executive order.
The Act, which went into effect in April 2024, gives China-based tech giant ByteDance 270 days to divest its U.S. assets including TikTok, otherwise the Chinese tech giant would face a ban on its app being available in U.S. app stores or on U.S. web hosting services. It also grants the White House the authority to prolong this deadline by another 90 days if the president deems that progress has been made towards a sale.
Trump said in the Oval Office late January 20 that the U.S. should own half of TikTok, which he estimated could be worth $1 trillion. “I think the U.S. should be entitled to get half of TikTok and, congratulations, TikTok has a good partner and that would be worth, you know, could be $500 billion,” Trump said.
China hopes the U.S. will earnestly listen to the voice of reason and provide an open, fair, just and non-discriminatory business environment for market entities around the world, China’s Foreign Ministry spokesperson Mao Ning the same day in response to a question about if China is open to a TikTok deal with Trump and how might such a deal look like. Any actions like operation and acuisition of businesses, “should be independently decided by companies in accordance with market principles,” Maot told reporters in a regular press.
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