Donald Trump approves TikTok's deal with Oracle and Walmart but sets conditions
Most importantly, President Donald Trump himself, who was the direct cause of the problems of the Chinese company, agreed to sign the agreement. At the same time, the US Department of Commerce extended the time previously allotted to TikTok by one week, i.e. until September 27, for ByteDance to be able to finalize the contract (which does not change the fact that TikTok again filed a lawsuit against the US administration, citing violations of First Amendment rights). and political motivation of decisions). What does this contract look like? First of all, ByteDance will create a new company called TikTok Global, which will be responsible for TikTok's operations in the United States and most of its international users, with 20% of the shares owned by Oracle and Walmart.