Trump administration seeking full US control of TikTok despite negotiation challenges: Report

Trump administration officials reportedly want to ensure U.S. investors get a majority share of the company that will take over the Chinese-owned video sharing app, TikTok.

Treasury Secretary Steven Mnuchin and other federal officials are seeking for U.S. ownership of the company to reach over 50%, which falls short of the full acquisition desired by President Trump and other GOP lawmakers, according to the Wall Street Journal, which cited people familiar with the matter.

The push came as the Beijing-based company ByteDance, which owns TikTok, has sought to retain majority ownership for its proposed partnership with Oracle Corp. in a U.S.-based company that will take over TikTok’s operations.

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