The BBC's US partner CBS reported late on Monday that Oracle was among a group of firms that would enable TikTok operations to continue in the US if a deal between Washington and Beijing is finalised.
The BBC has contacted Oracle, TikTok, the White House and the Chinese embassy in Washington DC for comment.
The ownership of TikTok has been a major sticking point in US-China trade talks. It was seen by observers as key to Beijing's efforts to negotiate lower tariffs and fewer trade barriers with the US, one of China's biggest markets.
Bessent announced the "framework" deal after the second day of negotiations to end a trade war which, at its peak, saw tariffs on some goods hit145%.
Posted by Loud-Chemistry-5056
3 Comments
I would be quite curious to see what the broader deal looks like in terms of how it affects trade barriers.
Also, whether or not it’ll be run by MAGA interests with Trump seemingly taking a slice in many high profile deals.
The Ellisons will soon be one of the most hated families in America.
According to Axios “TikTok will retain “Chinese characteristics” after sale, Bessent says”,
The U.S. is going to guarantee certain “Chinese characteristics” of the app remain, Treasury Secretary Scott Bessent told multiple news outlets on Monday, even though Congress banned TikTok last year in a rare show of bipartisanship over fears of Chinese influence over American kids.
Reuters quoted Bessent as saying the commercial side of the deal will preserve the app’s “Chinese characteristics,” though he did not elaborate. “They’re interested in Chinese characteristics of the app, which they think are soft power,” Bessent reportedly said. “We don’t care about Chinese characteristics. We care about national security.”