President Donald Trump says he has given his “blessing” to a proposed deal between Oracle and Walmart for the US operations of TikTok, the Chinese-owned app he has targeted for national security and data privacy concerns.

President Trump said the proposed deal will result in a new company which is likely to be based in Texas and under the control of US-based Oracle and Walmart.

“I have given the deal my blessing,” he said. “If they get it done, that’s great. If they don’t, that’s OK too.”

President Trump has been targeting TikTok, a video app popular with younger people, as well as WeChat, another Chinese-owned app.

The dispute over the two apps is the latest flashpoint in the rising tensions between the world’s two largest economies.