US President Donald Trump has approved US software company Oracle to buy China’s video-sharing app company ByteDance. Trump told reporters on Sunday that Walmart would also participate in the deal. He will oversee the creation of a new company in the province of Texas. Tiktok will operate in the US. He also said that the agreement will include a donation of five billion dollars for an education program. On Friday, Bytdance filed an indictment in U.S. District Court in Columbia challenging the Trump administration’s blocking of TikTok.
U.S. issued an Order to Ban Popular Chinese Apps
At the same time, China strongly opposed the move of the US to stop the downloading of WeChat and the TikTok app. They also warned against taking retaliatory measures to protect the interests of Chinese companies. On Friday, the US issued an order to ban popular Chinese social media apps TikTok and WeChat in view of national security. A few weeks ago, India had also banned many of China’s apps for sovereignty, integrity and security of the country. US President Donald Trump signed an order last month banning TikTok and WeChat until September 15 if they do not own an American company. Reacting to the Trump government’s order banning TikTok and WeChat from China, the Commerce Ministry said on Saturday that China strongly opposes the US move.
Tiktok ban in India
In the absence of any evidence, the US has repeatedly used the government’s power to suppress two enterprises for illegal reasons, which severely disrupted their normal business activities. The move has lowered the confidence of international investors in the US investment environment and has hurt normal global economic and trade activities. The ministry said that China is preparing to take retaliatory measures to protect the interests of its companies. However, the ministry did not elaborate on what kind of steps China is preparing to take. On June 29, India announced a ban on China’s 59 apps with TikTok and WeChat. Later, India expanded the scope of such apps and currently, 224 apps in China are banned in India.