U.S., China Kick Off Vital Trade Talks in Madrid

(MENAFN) Trade negotiations between the US and China commenced on Sunday in Madrid, as Washington pushes European allies to impose tariffs on Beijing over its Russian oil purchases.

The high-level talks are being led by Chinese Vice-Premier He Lifeng and US Treasury Secretary Scott Bessent. The discussions come as the tariff truce on Chinese imports is set to last until November, with the talks scheduled to run through Wednesday.

Spanish Foreign Minister José Manuel Albares welcomed both delegations at the Spanish Foreign Ministry in Madrid, signaling Spain's commitment to fostering dialogue. "Spanish foreign policy works for dialogue and agreement. Honored by the trust of both in choosing Madrid," Albares wrote on social media platform X.

The meeting marks the fourth round of talks in four months, underscoring growing concern over the fragile US-China trade relationship, which has been severely strained since former President Donald Trump's tariff war. Negotiations began just hours after the delegations arrived in Madrid on Sunday.

According to the US Treasury Department, the talks will focus on "key national security, economic, and trade issues of mutual interest, including TikTok and cooperating on money laundering networks that threaten both the United States and China."

The popular social media app, TikTok, remains at the center of US-China tensions. In 2024, US Congress passed a bipartisan law requiring ByteDance, TikTok's Chinese parent company, to divest its US operations or face a nationwide ban over national security concerns related to potential data sharing with the Chinese government.

Despite mounting pressure, US President Donald Trump delayed the TikTok enforcement deadline multiple times, with the most recent extension pushing the potential ban to Sept. 17.

In a statement last week, a Chinese Commerce Ministry spokesperson urged the US to resolve the issue through mutual dialogue and respect, calling for an "open, fair, just, and non-discriminatory business environment" for Chinese firms operating in the US.

Earlier this August, Trump signed an executive order extending the suspension of tariffs on China until Nov. 10, though a 10% reciprocal tariff remains in effect during the pause.

The trade war, sparked by Trump, continues to disrupt global markets, though there have been some reversals in levies following negotiations. Trump has reached agreements with the UK, South Korea, Japan, and the EU, and is continuing talks with additional countries.

The ongoing US-China trade talks come as speculation grows about a potential meeting between the two nations' leaders next month during the Asia-Pacific Economic Cooperation (APEC) summit in South Korea.

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