US, Chinese trade negotiators to hold tariff talks in Spain

ISTANBUL

China's trade negotiator Vice Premier He Lifeng and US Treasury Secretary Scott Bessent is scheduled to hold tariff talks in Spain.

The Chinese vice premier will visit Madrid from Sunday to Wednesday, according to the Chinese Commerce Ministry.

The US Treasury Department also confirmed talks, saying Bessent and He will discuss "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.

But in a June executive order, US President Donald Trump extended the TikTok enforcement deadline by 90 days to Sept. 17 – his third delay of the potential ban.

Chinese Commerce Ministry spokesperson on Friday 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 July, Chinese and US delegations led by He and Bessent met in Sweden and agreed to extend a pause on tariffs and other trade measures, as the US had set an Aug. 12 deadline for China to reach a trade deal.

Talks in Stockholm followed similar meetings between him and Bessent in Geneva and London.

In early August, Trump signed an executive order and extended a tariff suspension on China for another 90 days to Nov. 10.

But a 10% reciprocal tariff remains 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, Japan, the EU and other nations, and continues to hold talks.