Trump to finalize TikTok agreement ensuring US majority stake and control over user data

Trump to Sign TikTok Deal This Week

WASHINGTON – President Trump is set to finalize a TikTok agreement this week, which would give American investors majority control and ensure that U.S. companies handle user data, a senior official from the White House shared on Monday.

The terms of the deal involve TikTok’s operations transitioning to a U.S.-based joint venture, with Oracle stepping in as the security provider for the app.

Data from around 170 million Americans will be “retrained” and “continuously monitored” by Oracle, according to the agreement.

Discussions about controlling the algorithm that processes user data were a major point of contention during negotiations with China, as mentioned by officials from the White House.

Trump has indicated that there’s significant interest from various U.S.-based investors. The administration is particularly seeking “American-loving Patriots” who have expertise in national security and cybersecurity.

Officials emphasized that by “saving” TikTok, the administration aims to protect “thousands of jobs” and support small businesses, projecting that this could result in “hundreds of millions of dollars” saved over the next five years.

So far, the president has waivered several provisions from a law passed last year, which the Supreme Court upheld, requiring TikTok to separate from the Beijing-based parent company.

Legally, ByteDance must hold less than 20% ownership in the U.S. division of TikTok.

With many young users impacted by the app’s content, there are concerns among Congressional leaders about China-controlled algorithms being exploited by foreign adversaries.

Trump granted three extensions on the ban while negotiating the deal, stating the app held “incredible value” and suggesting his executive authority allowed him to override Congress on this issue.

He noted that his engagement with TikTok was pivotal to his 2024 election success.

Upon taking office, the president initially issued a 75-day extension on the pending ban, followed by another 75-day delay in April, and a final 90-day push in June.

During a recent meeting in Madrid with Chinese officials, the details of the deal began to take shape, and Trump had a phone conversation with Chinese leader Xi Jinping last Friday.