With the fragile US-China trade truce nearing its November expiry date after two 90-day extensions, next week’s talks in Madrid could be decisive – not only in determining the likelihood of a summit between presidents Xi Jinping and Donald Trump, but also whether the two sides can agree to a lasting settlement rather than another shaky detente, according to analysts.
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A fourth round of major trade talks between Beijing and Washington is set to unfold next week in the Spanish capital, with US Treasury Secretary Scott Bessent due to meet Chinese Vice-Premier He Lifeng and other senior officials, Bessent’s office confirmed in a statement on Thursday.
Representatives from both countries 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”, the Treasury said.
Stephen Olson, a former US trade negotiator who is now a visiting senior fellow at Singapore’s ISEAS – Yusof Ishak Institute, said: “If the US and China would like to accomplish something beyond just another extension by [November 10], the pace, tempo and depth of discussions will have to intensify.”
With both countries far apart on major issues, he added, if the Spain meeting fails to yield concrete progress, it is unclear whether Trump’s “hoped-for summit” with Xi can remain a “viable possibility”.
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The Post previously reported that Trump might visit China before heading to the Asia-Pacific Economic Cooperation summit in South Korea, scheduled to be held from October 30 to November 1, or he could meet Xi on the sidelines of the event.