Oracle will get full access to review TikTok’s source code and updates to make sure there are no back doors used by the company’s Chinese parent to gather data on the video-sharing app’s 100 million American users, according to Bloomberg.
TikTok parent ByteDance and Oracle submitted these details in their proposal to the Trump administration with a goal of averting an outright sale of the app or a shutdown of its US operations set to take effect September 20. US President Donald Trump has threatened to ban the app in a pair of executive orders issued last month based on US national security concerns.
The terms of the agreement seem to fall short of meeting those national security concerns expressed by administration officials including Secretary of State Mike Pompeo, according to people familiar with the matter. Pompeo, Attorney General William Barr, and other members of the administration have been talking directly with Oracle executives, one person said.
Beijing is less likely to oppose the current deal since it doesn’t involve the transfer of ByteDance’s algorithms, which recently enacted export restrictions specifically encompass, a person close to the negotiations said. But Trump, speaking Wednesday, September16, with reporters, said he is getting a briefing on the issue Thursday morning, adding that he didn’t like the idea of ByteDance retaining control of TikTok.
Featured News
FTC Urged to Enforce Rarely Used Antitrust Law Against Retail Giants
Mar 28, 2024 by
CPI
UK’s Fingleton Bolsters Team with New Additions
Mar 28, 2024 by
CPI
Britain’s Competition Regulator Clears Aviva’s Acquisition of AIG Life UK
Mar 28, 2024 by
CPI
White House Implements New AI Safeguards to Protect Rights and Safety
Mar 28, 2024 by
CPI
Denver Court Sets August Date for Kroger-Albertsons Merger Showdown
Mar 28, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Real Estate & Antitrust
Mar 27, 2024 by
CPI
Systematic National Evidence of Steering by Real Estate Agents
Mar 27, 2024 by
CPI
Compliance Now! Actionable Antitrust Advice for the Residential Real Estate Industry
Mar 27, 2024 by
CPI
Real Estate Commissions: Some Insights from the Economics of Multi-Sided Platforms
Mar 27, 2024 by
CPI
New Ideas for Promoting Real Estate Brokerage Price Competition
Mar 27, 2024 by
CPI