TikTok has reached an agreement to sell its U.S. operations to software giant Oracle, a landmark deal that could redefine how the U.S. and China square off over the reach of their homegrown technology companies
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The short-form video app burst into popular culture in the past few years, becoming one of the few recent social-media upstarts to offer a credible rival to U.S. giants like Facebook and Snapchat. The app, which provides users the ability to create short videos matched to sound or music, has already created its own generation of celebrities and countless dance trends.
Story continuesOn Aug. 6, Trump signed an executive order banning U.S. companies from doing business with ByteDance and alleging that the app poses risks that amount to a"national emergency." “The U.S. government is forcing one of China’s most successful global media companies to sell under a less than ideal timeframe, and China is trying to avoid having this set a precedent,” Triolo said. “The TikTok ban has to be viewed as part of this longer term effort by the U.S. to police the boundaries of its technology ecospheres with China.”
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