(Reuters)-American and Chinese authorities began conversations in Madrid on Sunday about their tense commercial ties, a divestment deadline for the approaching Tiktok Chinese Video app, and Washington’s demands for their allies to impose tariffs on China about their Russian oil purchases.
United States Treasury Secretary Scott Bessent and US commercial representative Jamieson Greer arrived shortly before Chinese vice-minister, He Lifeng, and China’s main commercial negotiator, Li Chenggang, at the Santa Cruz Palace, which houses the Spanish Foreign Ministry of Foreign Affairs.
The conversations mark the fourth time in four months that delegations come together in European cities to try to prevent the fragile trade relationship between the US and China collapse with President Donald Trump’s fares.
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Trade experts said there was little likely to be substantially advanced in the negotiations organized by Spain, which has sought to improve Beijing ties in recent years.
The most likely result of Madrid negotiations is seen as another extension of the deadline for Bytedance, the Chinese owner of the popular Tiktok application, discharges its US operations by September 17 or faces a stoppage in the country.
A source familiar with Trump government discussions about Tiktok’s future said an agreement was not expected, but the deadline would be extended for the fourth time since Trump took office in January.
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The US Treasury has said negotiations in Madrid will also include joint efforts between the US and China to combat money laundering, a reference to their longstanding demands that Beijing represses illicit technology product shipments to Russia that help in Ukraine war.
