TikTok on the verge of a ban: Oracle prepares to participate in a deal that will allow the platform to remain in the American market
Kyiv • UNN
Technology company Oracle may join a consortium of firms that will allow TikTok to operate in the US. The final decision will be made by US President Trump and China's Xi Jinping this week.
The technology company Oracle may participate in an agreement between the US and China that will allow TikTok to remain on the American market. Final decisions on the future of the application are to be made by US President Donald Trump and Chinese leader Xi Jinping during a meeting this week, UNN writes with reference to CBS News.
Details
Technology company Oracle is part of a consortium of firms that will allow TikTok to continue operating in the US if a framework agreement is reached between the United States and China
As reported, as of Monday evening, the structure of the final agreement had not yet been agreed upon, but according to sources, it will include several companies. It is currently unclear what level of participation Chinese firms, including TikTok's current parent company ByteDance, will have in the agreement, and who will control TikTok's powerful recommendation algorithm.
Presidents Trump and Xi are expected to hold talks on Friday. Attempts by the publication to contact Oracle executives and a White House spokesman were unsuccessful, and a TikTok spokesman declined to comment. The Chinese Embassy in Washington did not respond to a request for comment at the time of publication.
Commercial terms agreed
China will resolutely protect national interests, the legitimate rights and interests of Chinese enterprises, and will authorize technology exports in accordance with current legislation, said Chinese Deputy Minister of Commerce Li Chenggang after the meetings.
We can let it die, or, I don't know, it depends on the circumstances. It depends on China. It doesn't matter much. I'd like to do it for the kids. They like it
Addition
Last year, former President Joe Biden signed a bill passed by Congress. It essentially gave TikTok's China-based parent company, ByteDance, an ultimatum: either divest TikTok or face a ban in the US.
The Supreme Court upheld the law in a unanimous 9-0 decision. But Trump unilaterally issued a series of orders delaying its implementation. The last one came in June, when he moved the deadline to this Wednesday.
The President ordered the Department of Justice not to take action against Apple or Google for allowing TikTok to remain on their platforms despite the law. The law on the mandatory sale of TikTok assets was adopted back in 2024 after lengthy discussions about national security threats. The main concerns were that the Chinese company ByteDance could transfer American user data to the Chinese government or influence the recommendation algorithm, shaping the information space in the US.
This discussion began during Donald Trump's first presidential term. In 2020, he signed an executive order banning TikTok in the US, citing security and privacy risks. However, the document was blocked by the court. Four years later, Trump radically changed his rhetoric - he began to support TikTok, believing that the app's popularity among young voters helped him in the last election.
Recall
Earlier, UNN wrote that US Treasury Secretary Scott Bessent announced an agreement with China on TikTok ownership after trade talks in Madrid. The details of the agreement will be finalized during Trump's conversation with Chinese President Xi Jinping on Friday.