TikTok Deadline Looms as US, China Tackle Tariffs in Madrid Meeting

- U.S. and Chinese officials met in Madrid to address trade tensions, TikTok divestment, and sanctions on Russian oil imports. - Discussions highlighted impending deadlines and mutual grievances without major breakthroughs. On September 14, 2025, U.S. and Chinese officials met at Spain's Palacio de Santa Cruz to address escalating trade disputes. U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer conferred with China's Vice Premier He Lifeng and chief trade negotiator Li Chenggang. This was their fourth high-level meeting in four months. The talks followed July discussions in Stockholm, which resulted in a temporary pause on 55% tariffs on Chinese goods and the resumption of China's rare-earth exports. President Donald Trump extended this tariff relief until November 10, and it remains a critical leverage point in the ongoing negotiations. The Madrid meeting put a spotlight on the looming TikTok divestment deadline, currently set for September 17. ByteDance, TikTok's Chinese parent company, continues to face U.S. government pressure to sell its American operations, and while officials hinted at a potential extension, they have not announced a final decision. On September 14, a senior White House official stated, "The timeline for divestment remains under review," underscoring the lack of imminent resolution. Another contentious issue was the U.S. push for expanded tariffs on Chinese and Indian oil imports. Washington argues that because China and India continue to purchase Russian oil, these imports provide financial support for Russia’s war in Ukraine. Accordingly, Treasury Secretary Bessent and Trade Representative Greer urged G7 allies to implement similar tariff actions to curb Moscow’s revenue streams. The U.S. has already imposed a 25% tariff on Indian goods and also advocates applying parallel measures to Chinese oil-related imports to intensify economic pressure. The officials also discussed allegations that China is sending illicit technology shipments to Russia, which the U.S. claims aid Russia's wartime operations. In response, China’s Ministry of Commerce acknowledged these concerns but reiterated its own grievances over U.S. tariffs, export restrictions, and tighter limits on sharing advanced technologies. Both sides signaled a willingness for further dialogue but remain entrenched on critical trade and security issues. As of September 14, 12:00 UTC, Bitcoin (BTC) trades at $26,548, reflecting a 1.8% increase in 24-hour trading volume, according to CoinMarketCap.