US President Donald Trump Signs Order Outlining TikTok Sale Plan
Washington D.C. - On Thursday, US President Donald Trump signed an executive order outlining ByteDance's divestment plan for the short-form video app TikTok. The plan shifts control of its US assets to a group of new investors, including Oracle.
The order sets a period of 120 days for divestiture to take place, which is expected to satisfy a law that requires China-based ByteDance to sell its US assets in order to avoid a ban. The law, passed by Congress, set a deadline of January for the sale, and Trump has postponed that deadline.
According to Trump, all viewpoints will be treated fairly under the new owners. "We're going to make sure that everyone is treated fairly," he said during the announcement. "We want to make sure that we have a fair and transparent process."
The move comes after months of controversy surrounding TikTok's ownership and data collection practices. The app has been accused of collecting user data, including location information and browsing history, which has raised concerns about national security.
ByteDance acquired Musical.ly in 2016 and rebranded it as TikTok in 2018. The app has since become a global phenomenon with over a billion active users.
The sale plan involves Oracle taking control of TikTok's US assets, including its data centers and user information. Oracle will partner with Walmart to manage the app's operations in the US.
Critics have raised concerns about the potential for Chinese government interference in the app's operations under new ownership. "This is a classic case of a wolf in sheep's clothing," said Senator Marco Rubio (R-FL). "We need to be careful not to let China gain control over our technology and data."
Supporters of the deal argue that it will help protect national security and ensure the app's continued operation in the US. "This is a win-win for both the US and TikTok," said Senator Tom Cotton (R-AR). "We're protecting American jobs and ensuring that our citizens' data is secure."
The sale plan still requires approval from the Committee on Foreign Investment in the United States (CFIUS), which has been reviewing the deal since August.
As the 120-day period begins, TikTok users will continue to use the app without interruption. The future of the app remains uncertain, but one thing is clear: the US government is taking a closer look at its ownership and operations.
The Trump administration's move has sparked debate about the role of technology companies in national security and data protection. As the sale plan unfolds, it will be interesting to see how this plays out in the coming months.
*Reporting by Aljazeera.*
