MADRID: The United States and China have resumed critical trade negotiations in Spain’s capital city this week.
Delegations led by US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng began discussions on Monday at Spain’s foreign ministry headquarters.
These talks represent the latest effort to ease tensions between the world’s two largest economies following months of escalating trade disputes.
Negotiators face a challenging agenda that includes President Donald Trump‘s threatened tariffs on Chinese imports and the TikTok ownership controversy.
Washington has demanded that the popular video app be sold to a non-Chinese entity before its September 17 ban deadline.
Trade tensions reached critical levels earlier this year with both nations implementing reciprocal tariffs exceeding 100%.
Both governments temporarily reduced duties to 30% on US goods and 10% on Chinese exports, though this truce expires in November.
Beijing recently called for resolving disputes through mutual respect and equal consultations between the two nations.
China escalated tensions over the weekend by launching investigations into the American semiconductor industry.
These investigations signal ongoing friction despite the current round of diplomatic discussions in Madrid.
The Madrid meetings could establish groundwork for a potential Trump-Xi summit later this year.
Negotiators must address complex issues including technology access, tariff structures and rare earth exports.
These discussions continue through Wednesday as both nations seek to stabilise their economic relationship. – AFP
