Trump says TikTok deal could happen ‘quickly’
The White House wants to ensure user data is protected
President Trump on Friday indicated a deal between popular social media app TikTok and a U.S.-based company could be on the horizon, after the administration announced imminent restrictions.
Trump said he thought a deal could “go quickly,” though he declined to comment on whether it may happen before the November election.
“We have great companies talking to us about it, you know about Oracle, you know Microsoft has been involved and let’s see whether or not they’re continuing to be involved,” Trump said during a press conference on Friday, also mentioning Walmart. “So we have some great options and maybe we can keep a lot of people happy but have the security that we need – we have to have the total security from China.”
TIKTOK MAY FILE US IPO IF ORACLE DEAL APPROVED BY WHITE HOUSE
Earlier in the day, the administration announced it would ban TikTok and WeChat from app stores starting on Sunday.
Other restrictions on TikTok are slated to go into effect in November, though the White House has said it would waive those if the company is able to assuage its concerns about national security before then.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
The security concerns stem from allegations that the Chinese government may be able to access user data from the two companies.