US, China Resume High-Level Trade Talks in Spain

Next week, U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng are scheduled to hold the fourth round of high-level economic and trade talks in Madrid, focusing on issues such as U.S. unilateral tariffs, export controls, and the operation of TikTok in the U.S. These talks follow significant progress from earlier meetings in Geneva and London, where both countries agreed to substantially reduce bilateral tariffs and suspend certain reciprocal tariffs. The discussions also cover national security concerns, including the U.S. demand for cooperation on alleged Chinese involvement in money laundering and the controversial TikTok Prohibition Act, as the U.S. worries about potential Chinese government access to American user data. The timing of the talks is critical as it coincides with an impending deadline for the sale of TikTok’s U.S. business, extended by President Donald Trump. Spain, hosting the talks, seeks to leverage this diplomatic engagement to balance its relations between the U.S. and China amid recent tensions over defense and arms sales issues. These negotiations are viewed as a precursor to a potential face-to-face summit between Presidents Trump and Xi Jinping at the upcoming Asia-Pacific Economic Cooperation summit.