US, China set for high-level economic talks in Spain next week

US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng are set to meet in Madrid, Spain, next week, keeping alive high-level talks on trade, security and economic flashpoints, both Washington and Beijing confirmed on Friday.

The talks will run for four days, starting on Sunday, according to China’s Commerce Ministry.

“The two sides will discuss economic and trade issues such as the US’ unilateral tariff measures, the abuse of export controls, and TikTok,” the ministry said in response to media queries.

Last year, the US Congress approved a nationwide ban on TikTok unless its Chinese parent company, ByteDance, sold its controlling stake by January 19. Despite a Supreme Court ruling against the ban, US president Donald Trump has extended the deadline three times by executive order, setting a new cut-off of 17 September.

The US Treasury Department in a statement said that the meetings will focus on “key national security, economic and trade issues of mutual interest”, including Washington’s concerns over TikTok, and potential cooperation on disrupting international money-laundering networks.

  

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