U.S. and Chinese negotiators wrapped up the first round of discussions in Madrid on Sunday, seeking to temper escalating trade tensions as critical deadlines, including a potential forced sale of TikTok, loomed large.
The talks, held at Madrid’s historic Palacio de Santa Cruz, brought together U.S. Treasury Secretary Scott Bessent, Trade Representative Jamieson Greer, and their Chinese counterparts—Vice Premier He Lifeng and chief trade envoy Li Chenggang—for six hours of high-stakes deliberations.
Dialogue comes at a fraught moment, as Washington urges allied nations to impose tariffs on Chinese imports, citing Beijing’s ongoing purchases of Russian crude—an issue that has further strained already fragile U.S.-China economic ties. Bessent indicated that negotiations would continue Monday, declining to elaborate on the day’s progress.
This Madrid meeting marks the fourth encounter between the delegations in as many months, following their July session in Stockholm, where both sides tentatively extended a fragile trade truce and resumed the critical supply of Chinese rare-earth materials to U.S. industries.
Despite these efforts, the underlying dispute over tariffs persists. President Donald Trump recently authorized the extension of steep U.S. tariff rates—amounting to some 55% on Chinese goods—through at least November 10.
Experts expect little progress on the TikTok deal that will be reaching a deadline on September 17. It is expected that the deadline will be extended for the fourth time.
