On September 14, Oracle confirmed US Treasury Secretary Steven Mnuchin's statement that ByteDance's proposal to the US Treasury Department would have Oracle as "the trusted technology provider" for TikTok.
TikTok will continue to use the US as its headquarters and create 20,000 jobs in there, Mnuchin said earlier.
It's worth noting that the solution Mnuchin talked about is Oracle as a data compliance partner, similar to Apple's data compliance in China by Guizhou Cloud Big Data, and doesn't involve the requirement for TikTok to be sold or the transfer of TikTok's core technology that US President Donald Trump previously mentioned.
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The deadline for a final solution for TikTok is September 20, and two proceedings are currently underway, a review of TikTok by the CFUIS and a national security review based on an executive order from the US president.
This week, Mnuchin said, the US Treasury Department will review the options with the CFUIS committee and make recommendations to the US president on the review.
Oracle is a well-known Silicon Valley tech company with close ties to the US government.
TikTok is ByteDance's short-form video app focused on international markets.
Previously, on August 6, Trump issued his first executive order against TikTok, requiring individuals and entities subject to US jurisdiction to refrain from conducting any "transactions" with ByteDance and its subsidiary TikTok until September 20 (45 days after the issuance of the executive order).
Then, on August 14, Trump again pressured ByteDance to sell or divest the company's TikTok business in the US within 90 days.
In the evening of September 13, Microsoft released a statement saying that it had received information from ByteDance that ByteDance would not sell its TikTok short video app business in the US to Microsoft.
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