TikTok

NPR -  TikTok’s owners have until Saturday to sell the popular video app. Earlier this year, a law went into effect banning the app unless it sheds its China-based owner, ByteDance. After his inauguration, Trump said he wouldn’t enforce the ban and would hold a public auction to sell TikTok over the coming months. Under the leasing plan, a new U.S. entity would be created led by software giant Oracle.

Oracle is a top contender because it already operates almost all of TikTok’s cloud and it has experience with high-level national security data, NPR’s Bobby Allyn says. Leasing TikTok’s algorithm from its current owner is an unusual tactic, but it would circumvent the need for the Chinese government to sign off on selling the algorithm. Lawmakers remain concerned that China will use TikTok to influence Americans and steal their data. Trump hopes this deal will put those fears to rest, according to Allyn. Meanwhile, Chinese authorities were hoping TikTok would help provide leverage to get a better deal on tariffs.