Trump’s TikTok Deal With China

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.Oracle Corp. would provide security and help oversee the re-creation of a new US version of TikTok’s algorithm under a deal taking shape to sell the popular Chinese-owned app to a consortium of American investors, a White House official said, addressing a key concern raised by lawmakers in Washington.The arrangement, outlined by the official on Monday, seeks to ensure that the American buyers control TikTok’s recommendation software in the US following a divestiture by its Chinese parent, ByteDance Ltd. Owners of the US-based TikTok would lease a copy of the algorithm from ByteDance that would then be retrained “from the ground up” with Oracle’s oversight, according to the official.Data from US users would be stored in a secure cloud managed by Oracle with controls established to keep out foreign adversaries, including China, the official said. Beijing-based ByteDance would not have access to information on TikTok’s US subscribers, nor would it have any control over the algorithm in the US, the official said.Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe speaks with: Bloomberg Senior Editor Michael Shepard. Democratic Congressman Emanuel Cleaver of Missouri. Pennsylvania Governor Josh Shapiro. Stonecourt Capital Partner Rick Davis and Harvard Kennedy School's Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino. European Commission Executive Vice President for Clean, Just and Competitive Transition Teresa Ribera. See omnystudio.com/listener for privacy information.