Tiktok in the USA under the control of an American consortium. Trump will approve the contract
A representative of the White House said on a briefing dedicated to the contract that it would allow further and safe use of Tiktok by over 170 million users in the USA.
The agreement provides that the new consortium of companies based in the USA will be responsible for the actions of Tiktok in the US. American investors, including the Oracle IT group and the Silver Lake investment fund, will be the majority in the consortium. Oracle is also to be responsible for the safety of Tiktok. The application is to use a copy of the Chinese algorithm regarding content recommendation, however – as the administration representative pointed out – it will be controlled and trained by the American consortium.
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Most of the board is to be Americans and contrary to earlier media reports, a person chosen by the US government will not sit in it – he announced.
The White House representative emphasized on the briefing that “Thousands of jobs” will be saved thanks to the contract And he estimated that she would work in the next five years with hundreds of billions of dollars in business activities.
Trump is to sign the regulation soon
A representative of the administration informed that This week, Trump will sign the executive regulationin which he confirms that the terms of the Tiktok agreement correspond to American national security and are lawful. It will also extend another pause regarding the suspension of the enforcement of the act prohibiting the operation of Tiktok in the USA.
The White House representative emphasized that Trump wants “patriotic investors” to be represented in the consortium. The current owner of the application, Bytedance, is to have less than 20 percent. action.
– We feel confident about the fact that China has agreed to this contract – assured a representative of the administration. The American government has no subsequent conversations with the Chinese delegation on this subject.
On September 15, the US President announced that commercial talks with China resulted in an agreement on the takeover of Tiktok. On Friday, after talking to China's leader XI Jinping, he agreed for his consent for this transaction.
