Looking into Oracle-TikTok deal to ensure no compromise on national security: Trump

US President Donald Trump is looking into American major Oracle's reported bid for the Chinese-owned video-sharing app TikTok and wants to ensure there is no compromise on national security before approving the deal.

Washington: US President Donald Trump has said he is looking into American major Oracle's reported bid for the Chinese-owned video-sharing app TikTok and want to ensure there is no compromise on national security before approving the deal.

Last month, Trump signed an executive order to ban TikTok and WeChat by September 15 unless the ownership of the two Chinese companies changes to American. Initially, Microsoft was involved in talks with ByteDance that owns the TikTok platform. However, now Oracle has entered into a deal in this regard with ByteDance.

Trump told reporters in the White House that before approving the deal, he would like to ensure that there is no compromise on national security and that the US Treasury gets a large chunk of the business transactions. It is scheduled to receive a briefing from his officials on Thursday.

"They are giving me studies on the deal. We need 100 per cent confidence as far as national security is concerned. I am not prepared to sign off on anything. I have to see the deal. We need security especially after what we have seen with respect to China and what's going on, Trump said in response to a question on Wednesday.

Read:Media Reports reveal, Oracle, trusted tech partner for TikTok to run its US operations

At the same time, he conceded that there are legal challenges in the Treasury for receiving money from this deal. "We are going to see that. "They are willing to make a big payment to the government and we are not allowed to take their money. So we will look into that'', he said in response to a question.

Trump said he wants a big chunk of that money to go to the US government because it is his administration that made it possible. He added that he approves the deal but want the money to go to the government as he makes the deal valuable by approving it.
In response to another question, Trump said he does not like ByteDance having a majority stake. According to the proposal submitted by ByteDance, it would keep a majority stake and Oracle would have a minority stake, news reports have said.

PTI