Last month, Trump had signed an executive order to ban Chinese applications TikTok and WeChat by September 15 unless the ownership of the two Chinese companies changed to American hands.
"They'll (TikTok) be making about a USD 5 billion contribution towards education. We're going to be setting up a very large fund for the education of American youths, and that will be great. I've been asking for this (education fund)," Trump said on Saturday.
"We'll see whether or not it (the deal) happens, but conceptually, I think it's a great deal for America. They'll be hiring at least 25,000 people. It will most likely be incorporated in Texas. It'll be a brand new company. It will have nothing to do with any outside land, any outside country. It will have nothing to do with China. It will be totally secure," Trump said.
"I think it's going to be a fantastic deal. The technology is superior to anything in the world, and we like that. Again, a lot of jobs, a lot of money for our country. Billions of dollars of taxes will be paid every year. Hundreds of millions of users, and they'll be happy. Everybody will be happy," he said.
Trump said TikTok will keep its name. "I have given the deal my blessing. If they get it done, that's great, if they don't, that's okay too. It's a great deal for America," he said.
"They'll report the full scope of the deal very soon, but it will be totally controlled by Oracle and Walmart," he added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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