US, China Hold Fourth Madrid Trade Talks on TikTok, Tariffs

U.S. and Chinese officials held their fourth high-level trade talks in Madrid to address ongoing trade tensions, with key issues including the extension of the TikTok divestiture deadline, tariffs, and cooperation on combating money laundering and illicit technology shipments to Russia amid its war in Ukraine. President Trump has approved maintaining tariffs on Chinese goods at about 55% until at least November 10, and the talks are unlikely to produce significant breakthroughs, with experts expecting another postponement of TikTok's U.S. operations sale deadline. Discussions also covered China's recent investigations into U.S. semiconductor firms following Washington's addition of Chinese companies to a trade blacklist on national security grounds. Treasury Secretary Scott Bessent has pushed G7 allies to impose tariffs on China and India to curb Russian oil purchases, while Spain's hosting of the talks highlights its growing diplomatic role. The meetings reflect an effort to stabilize the frayed U.S.-China trade relationship and set the stage for potential future agreements, possibly involving a Trump-Xi summit later in the year. Both sides remain focused on balancing economic interests with national security concerns amid the broader geopolitical context of the Ukraine conflict.