U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer met with Chinese Vice Premier He Lifeng and trade negotiator Li Chenggang in Madrid.
This marks the fourth meeting in four months, aimed at stabilizing a strained trade relationship under President Donald Trump’s tariff regime.
A key agenda item: the September 17 deadline for ByteDance to divest TikTok’s U.S. operations or face a shutdown.
Officials hinted at a likely extension, despite bipartisan pressure in Congress for decisive action over national security concerns.
Talks covered tariff rates, export controls, and rare-earth mineral flows.
The U.S. has maintained 55% tariffs on Chinese goods, while China launched new investigations into American semiconductor firms, including Nvidia, over alleged anti-competition violations.
Washington is urging G7 and EU allies to impose tariffs on China to curb its purchases of Russian oil, adding a geopolitical layer to the economic negotiations.
Spain’s Prime Minister Pedro Sanchez hosted the talks, reflecting Europe’s growing role in mediating U.S.–China tensions.
(source Bloomberg)
—Agencies
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