US, China Officials Meet in Madrid Over Trade, TikTok Disputes

U.S. Treasury Secretary Scott Bessent is scheduled to meet Chinese Vice Premier He Lifeng in Madrid next week for the fourth round of high-level talks this year, aiming to address ongoing trade disputes, economic cooperation, and national security issues, including the looming TikTok divestment deadline. These discussions come amid a fragile 90-day tariff truce between the U.S. and China, set to expire in early November, with both sides seeking to prevent further escalation in tariffs and maintain the supply of Chinese rare earth minerals. TikTok's future in the U.S., given ByteDance's preparations for a massive employee share buyback and political pressure for divestment or ban, is a pivotal topic in the talks. The meetings also reflect broader diplomatic efforts, with Bessent's trip including engagements in London and a planned accompaniment of President Donald Trump during his state visit to Britain. Despite some progress, key issues such as agricultural trade and tariff reductions remain unresolved, with China criticizing U.S. protectionism and the U.S. pointing to China's failure to meet previous purchase commitments. The outcome of these talks could significantly impact global trade stability and U.S.-China relations as tensions and economic stakes remain high.