EvTikTok issued a ban in the United States after closing a deal with US companies Oracle and Walmart, but not everyone is happy with the solution. According to Business Insider, both the government of China and the United States have indicated that they can block business between companies.
During Monday, U.S. President Donald Trump said he could block the deal if Oracle and Walmart do not have full control of TikTok. “If we find out that they [Oracle and Walmart] do not have full control, we will not approve the deal.”
On the other side of the world, Chinese government media also issued a statement showing discontent with the deal. Hu Xijin, chief editor of the state-owned Global Times newspaper, said “Beijing will not approve the current deal” as the terms would be “unfair” for TikTok.
Even with information released by the companies involved in the deal, there is still a lot of confusion about the future of TikTok in the United States. The solution found by the Chinese ByteDance was to transform the social network into an independent company called TikTok Global.
According to a statement released on the 19th, the agreement guarantees a 20% share of Oracle and Walmart in TikTok Global, while the other 80% would still be in the hands of ByteDance. Even so, the change would bring the social network to the United States, generating 25,000 jobs in the country.