TikTok confirmed on Saturday that it had reached a proposed deal with U.S. companies Oracle and Walmart, but U.S. President Donald Trump's comment on who controls the popular video app added confusion to the deal.

"If we find that they don't have total control, then we're not going to approve the deal," Trump warned on Monday, referring to Oracle's control of TikTok Global.

ByteDance maintained in a statement on the same day that the newly created company TikTok Global is its subsidiary, of which Bytedance will retain a controlling 80 percent stake in a planned pre-IPO. Under the deal approved by President Trump, Walmart and Oracle would hold the remaining 20 percent.

TikTok declined to comment on the issue by the time of writing.

ByteDance, TikTok's parent company, stressed that it will not hand over any algorithm or technologies to the U.S. company but noted that Oracle has the authority to conduct security checks on TikTok's source code in the United States.

The company also clarified on Monday that it is not aware of Trump's claim that there was a 5 billion-U.S.-dollar education fund included in the TikTok deal. The company said that the 5 billion U.S. dollars is based on estimated income tax and other taxes that TikTok will need to pay in the next few years.

The TikTok controversy started in early July when Trump, citing national security concerns, sought to ban TikTok in the U.S. unless its American operations are sold locally.

Chinese officials have repeatedly stressed the position that ByteDance should not be coerced by the U.S. 

ByteDance revealed to CGTN last week that the TikTok deal needs approval from both China and U.S. authorities.

On Friday, the U.S. Department of Commerce announced an order to delay TikTok's U.S. app store ban by a week until September 27.

Trump told Fox News on Monday that the partnership could create 25,000 jobs in Texas. TikTok said on Saturday that it will maintain and expand TikTok Global's headquarters in the U.S., providing 25,000 jobs across the country.

(Cover via CFP)