Quick overview

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US and Chinese representatives discussed TikTok, trade, and the economy during a day of high-level talks in Madrid.  A Chinese delegation led by Vice Premier He Lifeng and a US delegation led by Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer met for nearly six hours on Sunday.

Bessent said “We’ll start again in the morning.”. The status of ByteDance Ltd. and matters about national security are on the agenda. This week is the deadline for TikTok to reach an agreement to continue operating in the US.

As early as October, when they are scheduled to attend a summit in South Korea, officials were also expected to set the stage for a possible meeting between Xi Jinping and Donald Trump.

During a press briefing, Trump stated that negotiations regarding TikTok are “going fine,” but emphasized that the platform’s future will ultimately depend on actions taken by China. He mentioned, “Depending on the situation, we might either let it die or— I’m not sure,” adding that it’s “up to China.” 

 

Furthermore, the Chinese Ministry of Commerce announced that a delegation will arrive in Spain from September 14 to 17.

This trip is part of a broader agenda for September. A U.S. official is scheduled to meet with counterparts in both Spain and Britain during his trip, planned for December 12 to 18. This week, Trump is also set to travel to the UK.

China has launched two investigations into the U.S. semiconductor industry, including an anti-dumping probe focused on specific American-made analog IC chips. These actions were taken ahead of the talks scheduled for Sunday and followed the United States’ decision to add 23 additional Chinese companies to its entity list.

This list imposes restrictions on companies that are considered to be acting against the national security or foreign policy interests of the United States.