US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng are leading the second day of crucial economic discussions in Madrid today, as tensions over trade persist between the globe’s leading powers.
The talks, which kicked off on Sunday at Spain’s foreign ministry headquarters, aim to resolve ongoing disputes that have strained relations for years.
This round follows a similar meeting in Sweden back in July, where both sides agreed to a temporary halt on escalating tariffs for 90 days. Now, with that extension in play, negotiators are pushing for more lasting solutions.
Adding urgency to the proceedings is the impending deadline for TikTok’s Chinese parent company, ByteDance, to secure a US buyer. Without a deal by Wednesday, the app faces a potential nationwide ban in America. President Trump, who once advocated strongly for shutting down TikTok, has shifted his position and postponed the restriction multiple times.
In remarks to the press yesterday, Trump commented, “We might just let it fade away, or maybe not—it’s really up to China. Doesn’t bother me much either way.” Speculation is mounting that another delay could be announced, marking the fourth extension.
Just last month, Trump downplayed worries about data privacy and national security tied to ByteDance, labeling them as exaggerated while insisting on finding a suitable purchaser. Efforts to reach the White House and TikTok representatives for statements are ongoing.
TikTok remains a massive hit globally, boasting approximately 170 million active users in the United States alone, making any decision on its future a high-stakes matter for consumers and businesses alike.
