Video-sharing app TikTok will continue operating in the U.S.

That's according to President Donald Trump who gave the Chinese social network's deal with Oracle Corp. (NYSE:ORCL) "his blessing," resolving a dramatic back-and-forth in which his administration labeled it a "national security" risk.

Per The Wall Street Journal, Trump agreed to let TikTok partner with Oracle — as well as Walmart Inc. (NYSE:WMT) — as a means to avoiding a ban.

“I have given the deal my blessing, if they get it done that’s OK too, if they don’t that’s fine too,” Trump said at the White House on Saturday.

The deal still needs final approval by the Committee on Foreign Investment in the U.S. (CFIUS).

Trump's decision came a day after TikTok's Beijing-based parent company, ByteDance Ltd., filed a complaint in a Washington federal court challenging the prohibitory measures previously taken by Trump.

This put ByteDance in a bind — agree to a bidder's terms and complete a transaction by the Sunday deadline.

Mcrosoft Corp. (NASDAQ:MSFT) had placed an offer, but ByteDance rejected it. 

ByteDance confirmed that an agreement to rescue TikTok included Oracle's joining forces with Walmart to create a new entity dubbed TikTok Global. This iteration of the startup will be based in the U.S.

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