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U.S. and China Open Madrid Talks With TikTok Deadline and Tariff Truce on the Line

The meetings seek to preserve a pause in tariffs that expires Nov. 10.

U.S. Secretary of the Treasury Scott Bessent attends a meeting between U.S. President Donald Trump and Ukrainian President Volodymyr Zelenskiy at the Oval Office of the White House, amid negotiations to end the Russian war in Ukraine, in Washington, D.C., U.S., August 18, 2025. REUTERS/Kevin Lamarque/File Photo
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The U.S. and Chinese flags are seen on the day of a bilateral meeting between the U.S. and China, in Geneva, Switzerland, May 10, 2025. KEYSTONE/EDA/Martial Trezzini/Handout via REUTERS/File photo

Overview

  • U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer are meeting China’s Vice Premier He Lifeng and top trade negotiator Li Chenggang in Madrid starting Sunday.
  • The agenda features the status of TikTok ahead of a Sept. 17 divestiture cutoff, cooperation on countering money laundering, and disputes over U.S. tariffs and export controls.
  • A person familiar with the administration’s discussions told Reuters a TikTok sale is not expected in Madrid, with another extension of the deadline likely.
  • Current U.S. tariff rates on Chinese goods near 55% remain under a truce extended in July and approved to run until Nov. 10, which also helped restart rare‑earth shipments to the U.S.
  • Bessent is urging G7 partners to impose tariffs on buyers of Russian oil, and Spain is highlighting its role as host with a public welcome at the foreign ministry.