Trump told reporters that he had “approved the deal in concept.”
But Trump’s statements about the deal generated a host of new questions.
Here’s what we’ll be tracking over the coming days and weeks.
1. Is this a political win for Trump?
“Conceptually, I think it’s a great deal for America,” Trump told reporters on Saturday night.
Trump is claiming victory because such a deal would create more American jobs and tax revenue. The president also said the agreement would ensure the security of Americans’ data.
But the latest deal is a significant step back from the full-on sale to an American company Trump originally pushed. Oracle confirmed in a statement that its investment with Walmart would account for 20 percent of TikTok Global.
Oracle said this morning ByteDance will have “no ownership” in the new entity.
“Upon creation of TikTok Global, Oracle/Walmart will make their investment and the