Deal struck with Oracle to base TikTok in U.S.
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TikTok, Trump and Lachlan Murdoch
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President Trump is expected to approve a proposed deal this week that would ensure TikTok in the United States is majority-owned by American investors and keep user data in a "trusted" cloud in the U.
The algorithm that suggests content will get an overhaul, but users likely won’t need to download a new app, according to a senior White House official.
After more than a year of negotiations, the US and China are nearing an agreement to hive off the US operations of social media platform TikTok to a consortium that includes software giant Oracle Corp.
President Donald Trump this week will declare that a deal to divest TikTok's U.S. operations from its Chinese owner ByteDance will meet requirements set out in a 2024 law, a White House official said on Monday,
White House press secretary Karoline Leavitt said she was "100% confident" the deal between the U.S. and China is finalized.
Though the agreement is still murky, reports suggest that Americans may not have to download a new version of the app.
"This deal does put America first," Leavitt told Fox News' "Saturday in America," according to NBC News. "And let me just be very clear. This deal means that TikTok will be majority-owned by Americans in the United States. There will be seven seats on the board that controls the app in the United States, and six of those seats will be Americans."
TikTok’s U.S. operations could soon be run by Oracle, Silver Lake Partners and the Murdochs under a proposed $100 billion deal.
The TikTok deal is being hailed as a win for national security. But experts fear it could trade one threat of surveillance for another.