(Mario Tama/Getty Images)
The US government will not require TikTok to sell its American assets to an investor group that includes Oracle and Walmart, The Wall Street Journal reported. The reversal is a sign that US trade policy may be different under President Joe Biden, with the WSJ reporting the change of course on TikTok is part of a larger review of potential security risks related to Chinese tech companies.
- Former President Donald Trump first said he would ban TikTok in the US last July.
- In September, the Trump administration approved a deal in which Oracle and Walmart agreed to partner with TikTok in the US, but the deal had been delayed by legal challenges.
- Reuters reported in December that ByteDance, the Chinese parent company of TikTok, was on the brink of closing a $2 billion funding round led by Sequoia and KKR at a $180 billion valuation.