Udayavni Special

Trump blesses new TikTok deal involving Oracle and Walmart


PTI, Sep 20, 2020, 8:39 AM IST

 

Washington: US President Donald Trump has announced a possible deal between Oracle and Walmart to share the US operations of Chinese video sharing application TikTok, which was placed on a ban list due to security concerns.

The deal mandates the creation of a new American company — incorporated in Texas — and the prospect of 25,000 new jobs. Further, TikTok will give USD 5 billion to fund the education of American youths.

Trump said he has given his blessings to the new deal. “TikTok is moving along. We’re dealing with Oracle, which you know of, in combination with Walmart, another great American company. The security will be 100 per cent. They’ll be using separate clouds (data) and a lot of very, very powerful security,” Trump told reporters at the White House on Saturday.

Last month, Trump had signed an executive order to ban Chinese applications TikTok and WeChat by September 15 unless the ownership of the two Chinese companies changed to American hands.

“They’ll (TikTok) be making about a USD 5 billion contribution towards education. We’re going to be setting up a very large fund for the education of American youths, and that will be great. I’ve been asking for this (education fund),” Trump said on Saturday.

“We’ll see whether or not it (the deal) happens, but conceptually, I think it’s a great deal for America. They’ll be hiring at least 25,000 people. It will most likely be incorporated in Texas. It”l be a brand new company. It will have nothing to do with any outside land, any outside country. It will have nothing to do with China. It will be totally secure,” Trump said.

“I think it’s going to be a fantastic deal. The technology is superior to anything in the world, and we like that. Again, a lot of jobs, a lot of money for our country. Billions of dollars of taxes will be paid every year. Hundreds of millions of users, and they’ll be happy. Everybody will be happy,” he said.

Trump said TikTok will keep its name. “I have given the deal my blessing. If they get it done, that’s great, if they don’t, that’s okay too. It’s a great deal for America,” he said.

“They’ll report the full scope of the deal very soon, but it will be totally controlled by Oracle and Walmart,” he added.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Maha postpones class 10, 12 board exams after COVID-19 surge

COVID-19 2nd wave not under control yet, don’t ignore it, says Udupi DC in video msg

Yediyurappa is unanimous leader, will complete term as CM: K’taka BJP Prez

Online exams not possible, says DyCM Ashwath Narayan

SC terms plea for removing 26 verses from Quran as absolutely frivolous

Mallikarjuna Khuba’s supporters attempt to besiege CM’s car in Basavakalyan

Katapadi: Missing man’s body found hanging from a tree





Related Articles More

Iran blames Israel for sabotage at Natanz nuclear site

More flee volcano on Caribbean island of St Vincent

Top Chinese official admits country’s vaccines have low effectiveness

Dubai parts with curtain covers for restaurants in Ramadan

Tokyo adopts tougher virus rules, starts vaccinating elders

MUST WATCH

Mangaluru: Police avert highway robbery, arrest 8 from TB gang

Family members of Transport workers strike | Udayavani

Shankar Shetty | A Swimming Pool for Buffaloes | Udayavani

News Bulletin 11- 04-2021 | UDAYAVANI

Damodhar Acharya | Udupi’s Master Sword Maker

Latest Additions

Maha postpones class 10, 12 board exams after COVID-19 surge

COVID-19 2nd wave not under control yet, don’t ignore it, says Udupi DC in video msg

COVID-19: India overtakes Brazil with second highest number of cases

Yediyurappa is unanimous leader, will complete term as CM: K’taka BJP Prez

AIADMK-led front will win polls in TN, form govt: BJP leader

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.