US and China delegations have begun trade talks in Madrid over TikTok divestiture deadline and pressure on Russian oil imports among other things. (Photo: X video screengrab via @ChineseEmbinUS)
US and Chinese officials met in Madrid on Sunday to address rising trade tensions, Beijing’s looming deadline to divest TikTok’s American operations, and the US pressure for allies to impose tariffs on China over its purchases of Russian oil, according to a report published by news agency Reuters. The sessions were led by Treasury Secretary Scott Bessent, Trade Representative Jamieson Greer, Chinese Vice Premier He Lifeng, and trade negotiator Li Chenggang.
The latest round of negotiations mark the fourth such meeting in as many months between US and Chinese trade delegations, seeking to uphold a fragile trade truce. Earlier this year in Stockholm, both sides agreed in principle to a 90‑day extension to reduce harsh retaliatory tariffs and to restart rare‑earth mineral shipments from China to the US.
President Donald Trump has also approved keeping US tariff rates on Chinese goods (about 55%) in place until November 10, as reported by Reuters.
Reports suggest a key item on the agenda of Sunday’s discussions was ByteDance-owned TikTok app which is facing a September 17 deadline to divest its US operations or risk being shut down. Experts cited by the news agency believe that this deadline will be extended yet again.
Other trade issues that the delegations plan to raise reportedly include US export controls, tariffs, and national security concerns among others. Washington is pushing the G7 and European allies to levy tariffs on China and India to discourage their purchases of Russian oil.
Meanwhile, China’s Ministry of Commerce has also reportedly launched anti‑dumping and anti‑discrimination investigations into US chip export and trade policy just ahead of the Madrid talks.
Observers say the latest round of US-China trade talks in Madrid will likely result in incremental agreements rather than the two sides witnessing big breakthroughs. Many hope for more substantial “deliverables” later, possibly linked to a potential summit between Donald Trump and Xi Jinping.
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