Bessent will travel to Madrid this weekend for negotiations with his Chinese counterparts over tariffs and national security issues related to the ownership of social media platform TikTok.
Bessent is slated to meet Chinese Vice Premier He Lifeng in Madrid to discuss national security and economic issues, a Treasury news release states.
This will be the fourth round of discussions between U.S. and Chinese counterparts after meetings in London, Geneva and Stockholm. The two governments have agreed to several 90-day pauses on a series of increasing reciprocal tariffs, staving off an all-out trade war.
During the last round of discussions in Stockholm, Bessent described his talks with the Chinese as “very fulsome.”
“We just need to de-risk with certain, strategic industries, whether it’s the rare earths, semiconductors, medicines, and we talked about what we could do together to get into balance within the relationship,” Bessent said at the time.
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