U.S.-China Trade Talks in Madrid Yield Little Progress as TikTok Deadline Looms

Senior U.S. and Chinese officials convened at Madrid's Palacio de Santa Cruz for closed-door discussions on trade tensions, TikTok's impending divestment deadline, and tariffs related to Russian oil imports. The meeting marks the fourth bilateral engagement in as many months, following July's Stockholm talks that established a 90-day trade pause.

Neither side anticipates breakthroughs. The dialogue serves primarily to prevent further escalation, with Washington maintaining 55% tariffs on Chinese goods through November 10. Meanwhile, Spain leverages the high-profile meeting to position Madrid as a neutral venue for global diplomacy.

ByteDance faces a September 17 deadline to divest TikTok's U.S. operations, though officials signal readiness to grant a fourth extension. Market observers note the prolonged uncertainty weighs on tech-related crypto assets.