US Presidents Trump and Xi Reach Tentative TikTok Deal Amid Shrouded Details

US and China Agree to Agree on TikTok Deal, but Details Remain Elusive In a move that has left the tech industry and investors scratching their heads, US President Donald Trump and Chinese President Xi Jinping appear to have made progress on a deal to save TikTok, despite the lack of concrete details. On Friday, Trump tweeted that he had "made progress" with Xi on approving the TikTok deal, but his statement was met with skepticism by analysts who point out that the agreement remains shrouded in mystery. According to Reuters, Trump told reporters in the Oval Office that he had "approved the TikTok deal," but Chinese state-run media reported a different version of events. The Global Times quoted Xi as saying that the government "respects the wishes of the company" and is working towards a solution that conforms to Chinese laws and regulations. TikTok's parent company, ByteDance, issued a statement thanking Trump and Xi for their efforts but provided little clarity on what exactly has been agreed upon. "We will work in accordance with applicable laws and regulations," the company said. The deal has been months in the making, with Trump initially threatening to ban TikTok from operating in the US unless it was sold to an American company. The proposed sale of TikTok's US operations to Oracle sparked a bidding war, but the details of the agreement remain unclear. Analysts say that the lack of transparency is not surprising given the complex web of interests and regulations involved. "This deal has been a moving target from the beginning," said Daniel Ives, an analyst at Wedbush Securities. "It's not just about the money; it's about the politics and the geopolitics." The economic impact of the deal is also uncertain, with some estimates suggesting that TikTok could be worth up to $50 billion. However, others warn that the agreement may ultimately lead to a loss of jobs and investment in the US. As the negotiations continue, investors are left wondering what exactly has been agreed upon. "We're still waiting for clarity on the deal," said one investor who asked not to be named. "Until then, it's hard to say whether this is a win or a loss." The next developments in the story will likely come from Washington and Beijing, where officials are expected to provide more details on the agreement. In the meantime, analysts warn that the uncertainty surrounding TikTok's fate could have far-reaching consequences for the tech industry. In related news, shares of ByteDance's US-listed affiliate, Musical.ly, fell 2% on Friday in response to the news. The company's stock price has been volatile since the deal was first announced, with some investors expressing concerns about the potential risks and liabilities associated with owning a Chinese technology company. As the world waits with bated breath for more information on the TikTok deal, one thing is clear: the agreement will have far-reaching implications for the tech industry, investors, and consumers alike. *Reporting by Engadget.*