IT Pro is supported by its audience. When you purchase through links on our site, we may earn an affiliate commission. Learn more

ByteDance says China must approve Oracle's TikTok deal

ByteDance hopes to retain ownership of TikTok by partnering with Oracle

On Thursday, ByteDance announced China must approve the sale of TikTok’s U.S. operations to Oracle. 

In an executive order signed in August, President Donald Trump threatened to ban TikTok if ByteDance failed to divest the social media app’s U.S. operation. Oracle has since submitted a proposal to the Trump administration that would make it a technology partner for the popular app while allowing ByteDance to retain majority ownership of TikTok. The proposal also envisions establishing TikTok Global as a company headquartered in the U.S.

However, President Trump questioned ByteDance’s plans to keep a majority stake in TikTok’s U.S. operations, adding that it is not in favor of the Beijing-based company maintaining control. Six Republican lawmakers have also called on President Trump to reject the proposal.

“Well, we’re looking into that,” President Trump stated. “From the standpoint of ByteDance we don’t like that. I mean, just conceptually I can tell you I don’t like that. That has not been told to me yet.”

If ByteDance does not comply with the executive order, President Trump has said he would ban TikTok in the U.S. as early as Sunday.

Chinese state media has reported that ByteDance didn’t include an outright sale of TikTok’s U.S. operations in its proposal to the Trump administration. 

According to Reuters, when it contacted China’s foreign ministry about the approval requirement, the ministry urged the U.S. to respect the market economy’s principles and stop politicizing economic and trade cooperation. 

Late last month, China updated its export control rules concerning artificial intelligence (AI) technology. Per Reuters, the Oracle deal would not require ByteDance to apply for an export license before including TikTok’s algorithm in the Oracle deal. However, ByteDance previously stated it would comply with the Chinese government’s order.

Featured Resources

Activation playbook: Deliver data that powers impactful, game-changing campaigns

Bringing together data and technology to drive better business outcomes

Free Download

In unpredictable times, a data strategy is key

Data processes are crucial to guide decisions and drive business growth

Free Download

Achieving resiliency with Everything-as-a-Service (XAAS)

Transforming the enterprise IT landscape

Free Download

What is contextual analytics?

Creating more customer value in HR software applications

Free Download

Recommended

TikTok phishing campaign tried to scam over 125 influencer accounts
social media

TikTok phishing campaign tried to scam over 125 influencer accounts

18 Nov 2021
Facebook's Oversight Board demands more transparency
social media

Facebook's Oversight Board demands more transparency

21 Oct 2021
Facebook pauses work on Instagram Kids
social media

Facebook pauses work on Instagram Kids

27 Sep 2021
Are you over-sharing online?
social media

Are you over-sharing online?

1 Sep 2021

Most Popular

Europe's first autonomous petrol station opens in Lisbon
automation

Europe's first autonomous petrol station opens in Lisbon

23 May 2022
Nvidia pauses hiring to help cope with inflation
Careers & training

Nvidia pauses hiring to help cope with inflation

23 May 2022
Open source packages with millions of installs hacked to harvest AWS credentials
hacking

Open source packages with millions of installs hacked to harvest AWS credentials

24 May 2022