On 14/9, US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer met with Chinese Vice Premier He Lifeng and Trade Negotiator Li Chenggang.
The meeting in Madrid, Spain, marked the 4th face-to-face discussion in 4 months between the two delegations in Europe. They discussed trade issues ranging from easing tariffs to resuming the flow of rare earth minerals from China to the US.
The Chinese Ministry of Commerce stated that the discussions included economic and trade matters such as US tariffs, export controls, and TikTok. This was the first time the social media platform was included in the negotiations.
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The TikTok app icon on a smartphone, photographed on 13/7/2021. Photo: Reuters. |
The TikTok app icon on a smartphone, photographed on 13/7/2021. Photo: Reuters.
Reuters sources said the inclusion of TikTok on the agenda, announced by the US Treasury Department, aims to establish a political basis for the Trump administration to extend the platform's operating deadline. Observers believe the meeting will likely extend the deadline for ByteDance to divest its US TikTok operations or face a ban, which was set to expire on 17/9.
The US Treasury Department stated that the Madrid talks would also cover joint US-China efforts to combat money laundering, hinting at a request for Beijing to tighten controls on illegal technology shipments to Russia.
Experts believe a major breakthrough from the Spain talks is unlikely. Wendy Cutler, Vice President of the Asia Society Policy Institute in Washington, suggested that more significant outcomes would be reserved for a meeting between US President Donald Trump and Chinese President Xi Jinping, potentially on the sidelines of the APEC summit in Seoul at the end of October.
These agreements could include resolving US national security concerns regarding TikTok, lifting restrictions on US soybean purchases, and reducing fentanyl-related tariffs. According to Cutler, the Madrid discussions could be a preparatory step for that high-level meeting.
However, she also emphasized that fully addressing US economic complaints with China, such as requiring the country to shift its growth model towards greater domestic consumption and reduce reliance on subsidized exports, could take years.
Phien An (Reuters)
