"Bessent is slated to meet Chinese Vice Premier He Lifeng in Madrid to discuss national security and economic issues, a Treasury news release states. This will be the fourth round of discussions between U.S. and Chinese counterparts after meetings in London, Geneva and Stockholm. The two governments have agreed to several 90-day pauses on a series of increasing reciprocal tariffs, staving off an all-out trade war."
"During the last round of discussions in Stockholm, Bessent described his talks with the Chinese as " very fulsome." "We just need to de-risk with certain, strategic industries, whether it's the rare earths, semiconductors, medicines, and we talked about what we could do together to get into balance within the relationship," Bessent said at the time."
"The U.S. and China delegations are also expected to continue discussions about ownership of TikTok. Congress approved a U.S. ban on the popular video-sharing platform unless its parent company, ByteDance, sold its controlling stake. President Donald Trump said last month that he will keep extending the sale deadline until there's a buyer. But Trump has so far extended the deadline three times during his second term - with the next deadline coming up Wednesday."
U.S. Treasury Secretary Scott Bessent will travel to Madrid to meet Chinese Vice Premier He Lifeng to negotiate tariffs, national security and economic issues. The visit follows prior rounds in London, Geneva and Stockholm and builds on several agreed 90-day pauses on escalating reciprocal tariffs. Talks aim to de-risk strategic industries such as rare earths, semiconductors and medicines and to rebalance the economic relationship. Delegations will also continue discussions about TikTok ownership after Congress approved a ban unless ByteDance sells its controlling stake and the presidential sale deadline has been repeatedly extended. Public support for a TikTok ban has declined to about one-third.
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