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US-China tensions

Trump allows Oracle and Walmart deal with TikTok

US companies set to own 20% of new entity as plan awaits Beijing approval

NEW YORK/PALO ALTO, U.S.-- President Donald Trump has given the go-ahead to a deal for Oracle and Walmart to maintain TikTok's operations in the U.S., with the two American companies set to own 20% of a new entity created in agreement with TikTok's Chinese owner ByteDance.

"I have given the deal my blessing, if they get it done that's great, if they don't that's fine too," Trump told reporters on Saturday, hours before a ban on U.S. downloads of the popular video-sharing app was due to take effect.

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