US and Chinese officials are set for a second day of trade talks in Spain as the deadline for the Chinese owner of TikTok to find a buyer or face a ban in America looms.
The discussions, led by US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, are part of ongoing efforts to resolve a protracted trade conflict between the two largest economies in the world.
The last meeting of top-level trade delegations from Washington and Beijing occurred in July, where a temporary truce extending tariff negotiations for an additional 90 days was agreed upon, pushing the deadline to November 10.
Former President Trump, who initially called for a ban on TikTok during his first term, has since moderated his stance, delaying the ban multiple times.
The deadline for TikTok's sale is expected to be discussed, with increasing speculation that it will be extended once again. Trump has indicated that he would continue postponing the deadline until a potential buyer emerges while downplaying the security concerns often associated with the app and its parent company, ByteDance.
During these talks, both U.S. and Chinese officials will likely also prepare for a potential meeting between Trump and Chinese President Xi Jinping, which may take place at a summit scheduled for October in South Korea.
The ongoing tariffs dispute has seen import taxes soaring up to 100% on certain goods, making the latest discussions critical to address 'unfair trade practices' and national security issues. The conversations underscore efforts to create a more stable economic environment as both sides navigate their complex relationship.
