Madrid Talks on U.S.-China Tariffs, TikTok and Money Laundering

U.S. Treasury Secretary Scott Bessent met with Chinese Vice Premier He Lifeng in Madrid on Sunday for four days of high-level economic and security talks focused on tariffs, the future of TikTok and cooperation on international money-laundering networks, U.S. and Chinese officials said. The talks, held at the Spanish foreign ministry, are the fourth formal round of negotiations this year and are seen as part of preparations for a possible summit between Presidents Donald Trump and Xi Jinping later this year.

The agenda in Madrid covered a broad set of flashpoints, officials said. Washington has pressed Beijing on the status of ByteDance and TikTok, seeking either a sale that would remove Chinese control or other measures to address national security concerns. Chinese authorities must approve any sale and have shown no public sign they will permit transfer of TikTok's core recommendation algorithm, participants and news reports said. The talks also addressed the looming expiry of a tariff truce in early November, with negotiators under pressure to prevent a return to steep levies that disrupted global trade earlier in the year.

Analysts said the Madrid meetings could indicate...