Bessent and China's Vice Premier He Lifeng to meet in Madrid next week to discuss TikTok and trade - Reuters

Bessent and China's Vice Premier He Lifeng to meet in Madrid next week to discuss TikTok and trade - Reuters

U.S. Treasury Secretary Scott Bessent is set to meet with Chinese Vice Premier He Lifeng in Madrid next week as part of his trip to Spain and Britain. The meeting, scheduled for September 12-18, will focus on trade, economic, and national security issues . This will be the fourth major in-person meeting between the two top economic officials this year, following previous discussions in Geneva and London.

The discussions in Madrid are expected to cover a range of topics, including the status of the Chinese-owned social media platform TikTok and joint efforts to combat money laundering. The meeting comes amidst ongoing efforts to maintain a trade truce that reduced retaliatory tariffs on both sides and restored the flow of Chinese rare earth minerals to the U.S. .

The U.S. and China had previously agreed to extend their tariff pause for another 90 days in late July in Stockholm, with the extension approved by President Donald Trump on August 12 until early November . The Madrid meeting is seen as a crucial opportunity to further advance these trade discussions and address ongoing concerns related to TikTok and national security.

During his trip, Bessent will also meet with government counterparts in Madrid and London and later join President Trump for his official state visit with Britain's King Charles. The meetings underscore the importance of the U.S.-China trade relationship and the ongoing efforts to navigate complex economic and political dynamics between the two nations.