A new proposal submitted by tech company ByteDance would feature software giant Oracle as a “trusted technology partner.”
During an interview with CNBC, Treasury Secretary Steven Mnuchin said the department received a proposal over the weekend that includes Oracle as a partner, with the company “making many representations for national security issues.”
Mnuchin said a critical factor in getting a deal done is making sure the technology is safe for users in the U.S. under the proposal.
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“We’ll be reviewing it with their technical teams and our technical teams to see if they can make the representations that we need,” said Mnuchin.
Oracle and TikTok confirmed the proposal mentioned by Mnuchin to USA TODAY.
“We can confirm that we’ve submitted a proposal to the Treasury Department which we believe would resolve the Administration’s security concerns,” said TikTok in a statement.
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ByteDance has until Sept. 20 to complete a deal for TikTok – the social app that has surged in popularity among teens and younger users – or face a ban.
On Sunday, The Wall Street Journal reported Oracle beat out Microsoft in a bid to acquire TikTok’s U.S. operations.
In a statement Sunday, Microsoft confirmed it was informed by ByteDance it would not sell its U.S. operations to the company.
“We are confident our proposal would have been good for TikTok’s users, while protecting national security interests,” said Microsoft in its statement.
On Aug. 7, President Donald Trump first issued an executive order threatening a ban on TikTok unless ByteDance sold its operations in the U.S. The administration cited evidence the app may share user data with the Chinese government. Weeks later, TikTok said it was filing a lawsuit contesting the order.
Follow Brett Molina on Twitter: @brettmolina23.
This article originally appeared on USA TODAY: ByteDance proposal for TikTok includes Oracle as a ‘trusted technology partner’
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