WASHINGTON (Pakistan Point News / Sputnik - 17th September, 2020) President Donald Trump told reporters that he is not prepared to approve the sale of Chinese video sharing app TikTok to a US entity until he has seen the proposal.
"No, I'm not prepared to sign off on anything - I have to see the deal," Trump said on Wednesday.
The President said that he will be presented with a report on the status of the Tik Tok transaction on Thursday morning.
Trump accuses TikTok of having poor data security that would enable the Chinese government to steal information on US users of the app. He has threatened to ban TikTok in the United States if it does not sell itself to a US entity. ByteDance, in response, says it has taken extraordinary measures to protect the privacy and security of its US users and has filed a suit against his administration, while actively seeking a domestic partner to avoid being shut down.
US software company Oracle has emerged as a frontrunner in the bid to acquire TikTok's US operations from ByteDance. The President has expressed his desire to see the US government compensated for facilitating the transaction, but the plan is hampered by regulatory roadblocks, which prohibit direct payments to the Treasury Department.