U.S. and Chinese trade negotiations have stretched into a second day in Spain, with an agenda of several sticking points ranging from tariff rates, export controls and an imminent deadline for a divestment of Chinese-owned social media TikTok.
A first day of negotiations — led by Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer on the U.S. side, and by Chinese Vice Premier He Lifeng and by top trade negotiator Li Chenggang for China — focused on TikTok, tariffs and the economy, according to a U.S. official.
The latest talks in Madrid mark the fourth round of bilateral meetings in four months, after both sides reached an agreement in May to pause most of the steep tariffs and walk back some of their mutual restrictions. A trip to Washington by Chinese senior trade negotiator Li Chenggang last month yielded little progress.
As the parties head into the second day of talks, Bessent said they made good progress on technical details and are close to reaching an agreement on TikTok.
“Our Chinese counterparts have come with a very aggressive ask,” he said, according to Reuters. “We will see if we can get there at present. We are not willing to sacrifice national security for a social media app.”
