Steven Mnuchin, the US Treasury Secretary, would agree to deal with TikTok remaining in the hands of Chinese company ByteDance, reports The Washington Post based on a number of anonymous insiders.
President Donald Trump has just expressed concern about the Chinese owner of the popular video app. He calls the Chinese background of TikTok a threat to the security of the United States and wants to give American companies more control over the company.
But according to The Washington Post Mnuchin called with his colleagues at the Department of Defense and said that a proposed deal with software company Oracle will go ahead, even though it does not address security concerns.
Oracle has confirmed that it wants to work with TikTok, but neither company is making any statements about the content of the deal. According to sources from American media, Oracle would, among other things, manage the data of American users, but TikTok is not sold to an American company.
Trump had just insisted on that. He has signed a decree giving TikTok until September 20 to finalize a deal. If not, the app will be banned. It is unclear what that exactly means.
The US president told journalists on Wednesday that the Oracle proposal would have to “meet 100 percent national security” before it gets it. Trump would face the proposal on Thursday.