The Chinese company ByteDance has postponed the deal to sell the TikTok service to the American corporation Oracle. According to a source in the South China Morning Post, the deal no longer made sense after Joe Biden replaced Donald Trump as US president.

“The deal was primarily aimed at satisfying the demands of the Trump administration. But Trump left, and with him the meaning of the deal,” an anonymous source told the publication. He added that Oracle co-founder Larry Ellison was a Trump supporter and ByteDance believed in the value of such a deal if he was re-elected. But after Biden's victory, the company lost interest.

ByteDance is now looking for other ways to continue its operations in the United States. It was previously reported that TikTok continues negotiations with the American government, despite the change of administration. One of the key conditions of the deal was set by the Chinese authorities, according to which ByteDance is prohibited from selling the main TikTok algorithms to the United States.

On February 10, The Wall Street Journal reported that Joe Biden's administration was conducting an extensive review of the measures his predecessor took against Chinese technology companies to address potential national security risks. US authorities have delayed the sale of TikTok and said they are developing a “comprehensive approach to protecting US data that addresses the full range of threats.”

In the summer of 2020, Donald Trump gave ByteDance a choice: either it sells TikTok to one of the American companies, or the service leaves the United States. The former US president believed that the application threatened the country's national security and leaked data of American citizens to the Chinese authorities. In September, Trump approved the deal to sell the Chinese service to Oracle Corporation: “Security will be one hundred percent. I blessed the deal. I approved it in principle."

The owner of TikTok refused to sell the service in the US after Trump left