WASHINGTON - Ahead of a deadline set by President Donald Trump over video-sharing app TikTok, US officials will evaluate a bid that could see American tech giant Oracle become a partner to a Chinese c
ompany that has been called a national security risk.
"I will confirm that we did get a proposal over the weekend that includes Oracle as the trusted technology partner," Mnuchin said on CNBC, adding that the bid would be handled by a government panel that reviews foreign transactions for national security concerns. Trump effectively ordered the sale of the Chinese company's US operations by September 20, after which the app would shut down.
"Unless much more is done to clarify exactly what the contours of the deal are and how they will work in practice, many observers and I wonder whether the deal will be sufficient to prevent the app's ban in the US." Last month, China's commerce ministry published new rules potentially making it more difficult for ByteDance to sell TikTok to an American entity by adding "civilian use" to a list of technologies that are restricted for export.Downloaded 175 million times in the United States, TikTok is used by as many as a billion people worldwide. It has repeatedly denied sharing data with Beijing.
"Given the need now to get a green light from Beijing after its export rules were changed a few weeks ago, TikTok's days in the US likely are numbered with a shutdown now the next step."
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