In the News: TikTok Oracle Approval; Unreliable Entity Rules; and 3 New FTZs

September 21, 2020 | BY

Vincent Chow

President Trump approves TikTok-Oracle deal to give popular Chinese app crucial lifeline; MOFCOM publishes implementation rules for Unreliable Entity List targeting foreign firms; and State Council announces three new FTZs in Beijing, Anhui and Hunan

Oracle corporation logo on the building of new Czech headquarters on June 18, 2016 in Prague, Czech republic.

Trump approves TikTok-Oracle deal, postpones ban

United States President Donald Trump has approved TikTok's deal with Oracle, which will allow the Chinese video-sharing platform to remain in the U.S. market. On Sept. 19, the president said that he approved "in concept" the deal, which will see U.S. technology giant Oracle and retail giant Walmart control 20% of a new U.S.-headquartered company called TikTok Global.

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