High-level economic discussions between US and Chinese officials have commenced in Madrid, addressing significant issues such as tariffs and the fate of TikTok amidst rising tensions. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng lead their respective delegations in negotiations aimed at resolving trade irritants. China has emphasized the importance of dialogue in addressing the TikTok situation, while both nations seek reciprocal sincerity in their discussions. The talks are seen as a crucial step in repairing bilateral relations, with Spain serving as the host for these pivotal conversations.