Trump Administration Set to Receive $10 Billion Fee for Brokering TikTok Deal

The Trump administration is set to receive a $10 billion fee for brokering the deal between ByteDance and Oracle, according to a report by the Wall Street Journal. The deal, which was announced in 2020, saw ByteDance, the parent company of TikTok, sell a majority stake in the app to Oracle.

The fee is reportedly a result of the Trump administration's efforts to force ByteDance to sell TikTok, citing national security concerns. The administration had threatened to ban the app in the US if ByteDance did not comply with its demands.

The deal was seen as a major victory for the Trump administration, which had been pushing for the sale of TikTok. The administration had argued that ByteDance's ownership of TikTok posed a risk to national security, as the app could be used to collect data on US users.

The $10 billion fee is a significant amount, and it is likely to be a major source of revenue for the Trump administration. The administration had been seeking to recoup some of the costs associated with its efforts to force ByteDance to sell TikTok.

The deal has been met with criticism from some lawmakers, who have argued that it was a bad deal for the US. They have argued that the administration should have taken a more aggressive approach to addressing the national security concerns posed by TikTok.

The Trump administration's efforts to force ByteDance to sell TikTok were seen as a major escalation of the US-China trade war. The administration had been pushing for the sale of TikTok as part of its efforts to reduce the influence of Chinese companies in the US.

The deal is a significant development in the ongoing trade tensions between the US and China. It is likely to have major implications for the tech industry, as well as for the US-China relationship.

Sources

[5] Trump administration set to receive $10 billion fee for brokering TikTok deal, WSJ reports