U.S. Treasury’s Scott Bessent to Meet China’s He Lifeng in Madrid for Trade Talks

U.S. Treasury Secretary Scott Bessent is set to meet Chinese Vice Premier He Lifeng in Madrid next week to discuss trade relations, economic cooperation, and regulatory issues, according to Reuters. The talks are expected to touch on key areas of concern between Washington and Beijing, including Chinese-owned social media platform TikTok, which is currently preparing to sell its U.S. operations under mounting political and regulatory pressure.

The Treasury confirmed that Bessent will also engage with additional European government counterparts while in Madrid, underscoring Washington’s broader strategy of strengthening economic and diplomatic ties in the region. Following his meetings in Spain, Bessent is scheduled to accompany President Donald Trump during his official state visit with Britain’s King Charles, highlighting the administration’s coordinated approach to trade and international relations.

The upcoming U.S.-China discussions come shortly after both nations agreed to extend their trade truce, which reduced tariffs and eased tensions between the world’s two largest economies. That truce, extended in August, is currently in place until early November. Despite this temporary agreement, Washington and Beijing remain locked in negotiations to establish a more permanent and favorable trade deal that addresses long-term economic imbalances.

Market observers see the Bessent-He meeting as a critical step toward easing uncertainty in global trade and potentially laying the groundwork for improved economic stability. With the future of TikTok’s U.S. business and broader trade negotiations at stake, the Madrid talks will be closely watched by investors, policymakers, and businesses on both sides of the Pacific.