US-China trade meet: High-level talks begin in Madrid; tariffs and TikTok top the table

The United States and China launched trade talks in Madrid on Sunday, with both sides confirming discussions on economic issues as well as the ongoing dispute over TikTok, according to AFP.

The meeting brings together US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng at a time when trade tensions between the two powers remain unresolved.“The Chinese and US delegations convened here on Sunday for talks on economic and trade issues,” China’s official Xinhua news agency reported from Madrid. The Spanish government also confirmed the talks, which are being held at the Palacio de Santa Cruz, the headquarters of Spain’s Ministry of Foreign Affairs.The Chinese delegation will remain in Madrid until Wednesday, officials said.Trade relations between Washington and Beijing have been marked by volatility this year, with both sides imposing tariffs that reached triple digits at their peak, disrupting global supply chains. However, the two governments agreed to de-escalate tensions, temporarily reducing tariffs to 30 percent on US exports to China and 10 percent on Chinese goods entering the United States.

In August, the countries agreed to delay the reimposition of higher duties for another 90 days, keeping the pause on steeper tariffs in place until November 10.Alongside trade, the TikTok dispute is also a major item on the agenda. The US has set September 17 as the deadline for the social media platform to secure a non-Chinese buyer or face a nationwide ban. President Donald Trump has already extended the deadline three times.China’s commerce ministry last week urged Washington to resolve the issue through dialogue. “We call on the United States to work with China on the basis of mutual respect and equal consultations, to resolve each other’s concerns through dialogue and find a solution to the problem,” it said in a statement.A federal law requiring TikTok to be sold or banned on national security grounds had been set to take effect the day before Trump’s January inauguration.According to AFP, the Madrid talks mark the latest attempt by the world’s two largest economies to navigate a fraught relationship that has unsettled global markets.