TikTok said in a statement Monday that its proposal to the Treasury Department should ‘resolve the Administration’s security concerns’
Oracle said Monday that the Chinese owner of TikTok has picked the U.S. company to be its “trusted technology provider,” beating out rival Microsoft in a deal that could help keep the popular video-sharing app running in the U.S.
Oracle spokeswoman Deborah Hellinger said she was confirming remarks made by U.S. Treasury Secretary Steven Mnuchin, who told CNBC on Monday that TikTok’s parent company, ByteDance, submitted its proposal to the U.S. government for approval.
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“We did get a proposal over the weekend that includes Oracle as the trusted technology partner with Oracle making many representations for national security issues,” Mnuchin said.
Mnuchin said there’s also a commitment to make TikTok’s global operations a U.S.-headquartered company