U.S. Treasury Secretary Scott Bessent will travel to Madrid this weekend to meet Chinese Vice Premier He Lifeng for talks focused on tariffs, national security concerns and the future ownership of the social media platform TikTok, the Treasury Department said.
The Madrid meeting marks the fourth round of high-level economic discussions between the two countries following sessions in London, Geneva and Stockholm. U.S. and Chinese officials have used the talks to manage a series of escalating reciprocal tariffs, repeatedly agreeing to 90-day pauses that have so far averted a broader trade confrontation.
During the previous round in Stockholm, Bessent described the discussions as "very fulsome," saying Washington and Beijing have been exploring ways to "de-risk" ties in strategic industries such as rare earths, semiconductors and medicines, and looking for measures to rebalance the bilateral relationship.
Negotiators are also expected to resume talks about ownership of TikTok. Congress approved legislation that would ban the popular video-sharing app in the United States unless its parent company, ByteDance, sells its controlling stake. President Donald Trump has extended the sale deadline three times during his second term, and the next deadline is scheduled for this Wednesday, according to U.S. officials.
A Pew Research Center survey conducted in late February and early March showed public opinion on a TikTok ban has shifted since 2023: about one-third of Americans in the survey said they supported a ban, down from 50% in March 2023; roughly one-third opposed a ban and a similar share said they were unsure.
In addition to meeting Chinese counterparts, Bessent will confer with Spanish government officials in Madrid to discuss U.S.-Spain relations and other bilateral economic issues, the Treasury said. After the Spain trip, Bessent is expected to travel to the United Kingdom to join President Trump for an official state visit with King Charles at Windsor Castle.
China remains a central economic and policy challenge for the Trump administration as it negotiates tariff agreements and security-related restrictions with other major trading partners, including Britain, Japan and the European Union. The Madrid talks are part of an ongoing effort by both capitals to contain tensions over trade and technology while seeking practical steps to reduce systemic risk in critical supply chains.
The Treasury Department did not provide detailed agendas for the Madrid meetings or public timelines for any potential agreements. Officials on both sides have emphasized that negotiations will be technical and iterative, dealing with complex questions of market access, export controls and the national security implications of foreign ownership of digital platforms.