Madrid: Trade talks began on Sunday between China and the United States in Madrid, according to Chinese state media and the Spanish government.

According to National Iraqi News Agency, the Spanish government stated that US Treasury Secretary Scott Besant will discuss economic and trade issues, including the TikTok app, with senior Chinese officials, including Vice Premier He Lifeng. The discussions commenced at the Santa Cruz Palace, the headquarters of the Ministry of Foreign Affairs.

The Chinese News Agency (Xinhua) confirmed in a report from Madrid that the Chinese and US delegations met to hold talks on economic and trade issues. The United States relies extensively on China in sectors such as telecommunications, semiconductors, rare earths, and pharmaceuticals, amid increasing rapprochement between Beijing, Moscow, and Pyongyang.

Trade relations between Beijing and Washington have been volatile since the beginning of 2025, with escalating tariffs imposed by each side. Reciprocal tariffs have reached triple-digit rates, disrupting supply chains. However, Washington and Beijing reached an agreement to temporarily reduce tensions, lowering tariffs to 30% for the United States and 10% for China.