US, China Begin Economic and Trade Talks in Madrid Amid TikTok Deadline

US and Chinese officials have commenced a crucial round of trade and economic talks in Madrid amid ongoing tensions and complex issues between the two nations. The discussions, led by US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, focus on trade disputes, tariffs, national security concerns, and notably the fate of TikTok, which faces a looming deadline to divest its US operations or risk a ban. While previous talks have temporarily eased escalating tariffs, the current round is unlikely to produce a significant breakthrough but may result in another extension of the TikTok deadline. Both sides aim to lay groundwork for a potential meeting between President Donald Trump and President Xi Jinping at the upcoming APEC summit in South Korea. China calls for equal dialogue and adherence to multilateral trade rules, emphasizing the need to address US unilateral tariff measures and export controls to rebuild trust. Experts highlight the challenges ahead due to China's confidence in its position and the intricate nature of the issues, with hopes that these talks will lead to more stable economic relations benefiting the global economy.