President Donald Trump said on Wednesday that he was not ready to sign a deal for Oracle to buy TikTok from a Chinese parent company, citing both national security concerns and wanting to make sure the US government gets the cut.
‘As far as national security is concerned, it has to be 100 percent. No, I am not willing to sign off for anything. I need to see the deal, ”Trump said. “They’ll report to me in the morning and I’ll let you know.”
He also said he was surprised to learn that the US cannot lower the TikTok deal and that he will let the government look into it.
“Amazingly, I think you shouldn’t do that,” he said at his press conference when asked about payments to the Treasury Department for the sale, an idea he’d pushed. “There’s no way to do that from – there’s no legal way to do that.”
President Donald Trump said on Wednesday he was not ready to strike a deal for Oracle to buy TikTok from a Chinese parent company
Trump will be briefed on the matter by Treasury officials on Thursday morning.
‘They are willing to make a large payment to the government and should we not take their money? When will this happen? How foolish can we be? We are investigating that now. I said no, I want a lot of that money to go to the United States government because we made it possible, ”he complained.
‘The lawyers come back to me and say that’s not possible. You know why?’ he said. Because no one ever said we will approve the deal, but we want a lot of money to go to the government. Because by approving the deal, we make the deal valuable. They had never heard of it. Okay? Can you believe it? ‘
Trump said he also disliked that the U.S. purchasing company would have a minority stake in the Chinese company.
‘I do not like that. I have not been told that yet. That has been reported, but not told to me. It can be an accurate report for a change. If so, I won’t be happy about that. Assuming ByteDance is China and I think it is, ‘he said.
The president’s words come after reports that Oracle’s bid to buy TikTok from China’s ByteDance is reportedly not meeting Trump administration’s requirements to allay concerns that the video-sharing app is a national security issue. represents.
The proposed deal has sparked ongoing concerns among national security officials that could influence Trump’s decision, said people familiar with the deal Bloomberg News on Wednesday.
Oracle announced on Monday that it was part of a proposal Bytedance had submitted to the US Treasury Department to serve as a “ trusted technology vendor ” with Bytedance, without further details on the terms of the deal.
Oracle’s bid to buy TikTok from Chinese parent company ByteDance reportedly fails to meet Trump administration’s requirements to resolve national security concerns
Marco Rubio and five other Republican senators have called on the Trump administration to reject the deal if ties to Chinese owner Bytedance continue.
Rubio, the first senator to call on the government to investigate TikTok over censorship concerns, said in the letter to Trump that there remained “ serious questions ” about Oracle’s role, the technology it would provide to Bytedance, and the future of the algorithm. the application.
“We remain against any deal that would allow China-based or controlled entities to maintain, monitor, or modify the code or algorithms that use a US-based version of TikTok,” Rubio wrote in Wednesday’s letter.
“ We are encouraged that this deal still requires government approval, and as reports indicate that this proposed deal will maintain ties with ByteDance or other China-controlled entities, we strongly urge the government to adopt such a deal. reject proposal on national security grounds, ‘he added.
The letter, also signed by Senators Thom Tillis, Rick Scott, John Cornyn, Roger Wicker, and Dan Sullivan, is part of a growing chorus of lawmakers questioning the deal.
On Monday, Republican Senator Josh Hawley sent a letter to Treasury Secretary Steve Mnuchin, who heads a national security panel reviewing the proposal and calling for the deal to be scuttled if it does not see the “ full emancipation of TikTok ”. software of potential Chinese. Communist partial control. ‘
Trump has also said he is a fan of Oracle co-founder and chairman Larry Ellison (right), one of the few tech executives who openly supports the Republican president
Trump had previously made it clear that he was seeking a full sale of the app to a US technology company amid concerns among national security officials that Bytedance could provide US user data to the Chinese government.
However, Trump may not want to alienate 100 million American TikTok users weeks before a hotly contested presidential election.
Trump has also said he is a fan of Oracle co-founder and chairman Larry Ellison, one of the few tech executives who openly supports the Republican president.
Meanwhile, China has updated its export control rules to give it control over the transfer of technology, such as TikTok’s recommendation algorithm, to a foreign buyer. Chinese officials have said ByteDance should not be forced into a deal by the United States.