Trump blesses proposed TikTok deal with Oracle and Walmart
WeChat will be banned in the U.S. and new downloads of and updates to TikTok will not be available starting Sunday, the Commerce Department said.Treasury spokeswoman Monica Crowley said approval of the deal is subject to closing with Oracle and Walmart, as well as conditions to be approved by the Committee on Foreign Investment in the United States.Trump had earlier floated that any prospective deal should result in a direct payment into the U.S. Treasury.
China’s Ministry of Commerce called for the U.S. to stop “bullying” and said China would take “necessary measures” to protect Chinese companies’ rights and interests.China on Saturday announced “provisions on an unreliable entity list,” allowing it to take measures against foreign enterprises if they are national security threats, including barring them from investing in China or stopping them from engaging in China-related imports or exports.
In a statement Sunday, China’s Ministry of Commerce said the rules it issued Saturday “are not targeting any specific country or industry,” and had been in the works for more than a year, since May 2019.Trump said he believes it’s going to be “a fantastic deal,” adding that “the technology’s superior to anything in the world, and we like that.”
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