Trump Denies Talks with Oracle About TikTok Deal, but Decision Coming Soon
President Trump on Monday denied that he had authorized talks between TikTok and Oracle about a potential deal, despite reports that such discussions were underway. However, he did say that a decision on the future of TikTok in the United States would likely be made within 30 days.
"I have not authorized Oracle to negotiate a deal with TikTok. I have nothing to do with it," Trump said at a press conference. "I have not spoken to Oracle. I have not spoken to TikTok."
The president's comments came after the Wall Street Journal reported that Oracle had been in talks with TikTok about acquiring its U.S. operations. The report said that the deal could be worth as much as $20 billion.
Trump has repeatedly threatened to ban TikTok in the United States, citing national security concerns. The company is owned by the Chinese company ByteDance, and the Trump administration has accused ByteDance of sharing user data with the Chinese government.
ByteDance has denied the allegations, and has said that it is committed to protecting user data. The company has also said that it is willing to sell its U.S. operations to an American company in order to avoid a ban.
It is unclear what will happen to TikTok if Trump does not approve a deal with Oracle or another American company. The president could still ban the app, or he could allow it to continue operating in the United States.
The decision on TikTok's future is likely to have a significant impact on the company's business. TikTok is one of the most popular social media apps in the world, with over 100 million monthly active users in the United States. A ban on the app would likely cost ByteDance billions of dollars in revenue.
The decision is also likely to have a significant impact on the U.S.-China relationship. If Trump bans TikTok, it would be seen as a major escalation of tensions between the two countries.