I think it's addressed in sources I've linked, there is a whole section describing who have access to data of US citizens. Additionally I don't think US administration will just let them do it (share whatever they want with China), if a deal will be made then US citizens will control who is and how that data is accessed outside US through Oracle, otherwise they would just be banned as national security threat.

Actually the data was already stored in the US as required by US law. The deal with Oracle is to guarantee the access is limited.