From September 14 to 15 local time, Chinese Vice Premier He Lifeng, head of the Chinese delegation on economic and trade matters, met with U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Lee Greer in Spain. The high-level talks were guided by the important consensus reached between the two countries' presidents and featured frank, in-depth, and constructive discussions on key bilateral economic and trade concerns.
The two sides reached a preliminary framework of consensus on several issues, including:
- Addressing concerns over TikTok through cooperative means,
- Reducing investment barriers, and
- Promoting mutual trade cooperation
Discussions on the formal outcome document will follow, along with domestic approval procedures in each country.
Despite the constructive tone of the talks, tensions flared just ahead of the meetings. On September 12, the U.S. Department of Commerce announced that 23 Chinese entities would be added to the so-called "Entity List", effectively restricting their access to U.S. exports.
In response, China's Ministry of Commerce launched:
- An anti-discrimination investigation into U.S. measures targeting the Chinese semiconductor industry, and
- An anti-dumping investigation into U.S. analog chips, effective September 13.
Professor Wang Yong, Director of the Center for American Studies at Peking University, told DotDotNews that the Madrid talks were meant to be a valuable opportunity to reduce friction and explore cooperation. However, the U.S. once again imposed sanctions just before negotiations — a move that sends a clear message:
"The U.S. wants to exert pressure to control the pace of negotiations and gain additional leverage," Wang said.
He noted that while this tactic has been used in past negotiations, China did not accept such pressure this time. Instead, Beijing emphasized equality and reciprocity as the foundation for talks. If Washington continues to sanction while negotiating, Wang warned, constructive outcomes will be difficult to achieve.
Wang further pointed out that the U.S. is attempting to expand its pressure campaign globally, seeking cooperation from allies — particularly the European Union. However, the EU has responded with notable caution.
"Europe is no longer as one-sided on China-U.S. issues as it once was," he said.
The EU's foreign policy is increasingly shaped by WTO rules and its own economic interests. China is the EU's second-largest trading partner after the U.S., making it an irreplaceable market.
Whether the Madrid talks will yield meaningful results depends on Washington's willingness to return to a cooperative path. China has shown a sincere willingness to engage, while also demonstrating firm resolve to defend its interests.
From agriculture to technology to energy, Wang emphasized: "China-U.S. cooperation benefits both sides; confrontation harms both."
He also highlighted that the EU's balanced stance serves as a reminder to the U.S. that unilateralism is not sustainable. True progress lies in multilateral cooperation.
According to the Joint Statement on China-U.S. Economic and Trade Meeting in Stockholm issued on August 12, the U.S. agreed to extend a 90-day suspension on the implementation of 24% retaliatory tariffs on Chinese goods. In return, China also extended its 90-day suspension on reciprocal tariffs and certain non-tariff countermeasures.
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