“I’m not ready to sign anything,” Trump told a press conference at the White House, adding that he expected the deal to be presented to him on Thursday. He stressed that the deal “must be 100% in terms of national security”.
The future of TikTok in the US has been in the air since earlier this summer after Trump targeted the app over concerns that Chinese parent company ByteDance could be forced to submit data on American users to the Chinese government. According to ByteDance, user data in the US is stored with a backup in Singapore. The company has announced that it will not disclose any data to the Chinese government upon request.
Trump has asked ByteDance to sell TikTok, otherwise there is a risk of being banned in the US. The US company would make a deal with Oracleand is designed to address national security concerns.
Trump suggested he had concerns about a deal that would allow ByteDance to keep a controlling stake in TikTok.
“Conceptually, I can tell you I don’t like this,” he said. “If that’s the case, I won’t be happy.”
The president had originally indicated that the government should receive a cut in all deals that took place after demanding the divestment of TikTok. But he said lawyers told him the government did not have the power to request such a payment.