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Trade War Monitor, Sept. 15: China, U.S. Find Common Ground on TikTok in Madrid Talks

Published: Sep. 16, 2025 3:25 a.m. GMT+8

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A framework agreement to keep TikTok operational in the United State has been reached, as senior American and Chinese officials meet in Madrid for a fresh round of trade talks.

The negotiations, led by Chinese Vice Premier He Lifeng and U.S. Treasury Secretary Scott Bessent, mark a high-stakes attempt to manage the strategic rivalry between the two powers — one that now spills into nearly every aspect of the global economy. Expectations are rising for a summit between the nations’ leaders in the near future.

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What Happened When

July 2025：: U.S.-India trade talks abruptly collapsed, straining ties between the two countries.

August 2025：: The United States imposed a fresh round of 25% tariffs on Indian exports, raising the effective tariff rate on some Indian goods to 50%.

Early September 2025：: Kevin Rudd, Australia's ambassador to the U.S., spoke at the Asia New Vision Forum, emphasizing both the challenges and the drive for stabilization in U.S.-China economic relations.

September 2025：: Chinese and U.S. officials reached a 'basic framework consensus' to resolve the dispute over TikTok after two days of talks in Madrid.

September 11, 2025：: Lawrence Summers participated in a virtual dialogue with Hu Shuli, publisher of Caixin Media, during the Asia New Vision Forum 2025, and criticized the Trump administration's tariffs as 'quite unwise.'

AI generated, for reference only