Senior officials from the United States and China are meeting in Madrid today for a new round of discussions aimed at easing growing trade tensions between the world’s two largest economies. The talks come at a critical time, as Washington has set a deadline for TikTok’s parent company, ByteDance, to divest its U.S. operations or face a nationwide ban.

American officials are expected to raise concerns about market access, unfair trade practices, and intellectual property rights. Meanwhile, Chinese delegates will push back against U.S. tariffs and seek to protect their technology companies from increasing restrictions.

Another key topic on the agenda is whether the U.S. and its allies should coordinate new tariffs on Chinese and Indian imports of Russian oil — a move intended to cut Moscow’s revenue streams amid ongoing geopolitical tensions.

Analysts say that while no major breakthrough is expected, the fact that both sides are meeting signals an effort to prevent relations from deteriorating further. Business leaders around the world are closely watching the outcome, as the talks could shape global trade policies and digital regulations in the coming months.