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ByteDance contradicts President Trump on TikTok deal - Business Insider

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TikTok's Chinese owner contradicted 2 of Trump's key boasts about its deal with Walmart and Oracle

for a US tie-up with Oracle and Walmart, but its parent firm ByteDance would like to check some of President Trump's boasts about the deal.

"It'll be a brand new company. It will have nothing to do with any outside land, any outside country, it will have nothing to do with China," Trump said. Oracle and Walmart will own up to 20% of the company, with Oracle designated as ByteDance's "trusted technology provider" in the US and Walmart as a "commercial partner.", Oracle and Walmart have said TikTok Global will be an "independent American company," and that four out of five board members will be US citizens.the companies involved in the deal had agreed to pay a $5 billion fee to the US Treasury which would be used to set up an education fund.

 

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shonaghosh Golly gosh. Trump not being truthful? Really? Wow!

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