The US and China have kicked off a new round of trade talks in the Spanish capital, Madrid, amid Washington's demands that its European allies place tariffs on Beijing over its purchases of Russian oil.
Chinese Vice-Premier He Lifeng and US Treasury Secretary Scott Bessent are leading their delegations in crucial talks with the tariff truce on Chinese imports extended until November. The talks will continue for four days through Wednesday.
Spanish Foreign Minister Jose Manuel Albares received the two delegations at the Foreign Ministry in Madrid, where the two sides held a new round of trade negotiations.
"Spanish foreign policy works for dialogue and agreement. Honoured by the trust of both in choosing Madrid," said Albares on X.
The talks, which mark the fourth time in four months, started hours after the two delegations touched down in the capital on Sunday, in yet another attempt to keep the strained US-China trade relationship from collapsing under President Donald Trump's tariff war.
TikTok
According to the US Treasury Department, talks will include "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."
TikTok faces a nationwide ban on national security grounds in the US.
The US Congress passed bipartisan legislation in 2024 requiring ByteDance, TikTok's Chinese parent company, to divest US operations or face a nationwide ban due to national security concerns about potential data sharing with Beijing.
However, in a June executive order, US President Donald Trump extended the TikTok enforcement deadline by 90 days to September 17, his third delay in the potential ban.
A tariff war
The Chinese Commerce Ministry spokesperson last week called on the US to address the issue through dialogue based on mutual respect and consultation, as well as provide an "open, fair, just, and non-discriminatory business environment" for Chinese companies operating in the US.
In early August, Trump signed an executive order and extended a tariff suspension on China for another 90 days until November 10.
However, a 10 percent reciprocal tariff will remain in effect during the suspension.
The world’s top two economies were engaged in a tariff war, initiated by Trump, roiling markets before a mutual rollback of staggering levies.
Trump has reached deals with the UK, South Korea, Japan, and the EU, among other nations, and continues to hold talks with many others.
The latest talks between Beijing and Washington come amid rising hopes that Chinese and US leaders could meet next month on the sidelines of a summit of the Asia-Pacific Economic Cooperation in South Korea.
