US-China Trade Talks: Tariffs, TikTok, and Russian Oil
REPORTER:
US and Chinese delegations take their leave Sunday after a day of talks in Madrid, Spain. It’s the fourth time in four months the US and China have met in Europe trying to salvage one of the world’s biggest trade relationships amid geopolitical tensions and US tariffs.
REPORTER:
As the motorcades depart, it’s not clear how far the two sides have progressed. They have a lot to work through. Trade ties are strained, a 90-day tariff truce is running out, and in his quest to end the Russia-Ukraine war, US President Donald Trump wants US allies to put their own tariffs on China to pressure it into scrapping imports of Russian oil.
REPORTER:
And then there’s the matter on US President Donald Trump’s mind: China-owned social media app TikTok—used by roughly 170 million Americans. The US government’s been pushing for the app’s Chinese owners to sell its US operations or face a shutdown. So far, there have been four extensions of the deadline for the sale. Trump says the app’s fate rests with China.
Donald Trump (US PRESIDENT):
They’re negotiating TikTok right now. We may let it die. Or we may, I don't know. It depends. Up to China, it doesn't matter too much. I'd like to do it for the kids that like it. I mean, selfishly speaking, I did very well on TikTok, and I got the youth vote. I got numbers that nobody's ever even come close to in the Republican Party. Nobody.
REPORTER:
There’s still a second day of talks Monday to sort through these sticky issues. But experts aren’t optimistic. And with China launching an anti-dumping probe into the US chip industry and a so-called 'anti-discrimination probe' into US measures towards Chinese chip industry, there’s a chance trade friction could grow even further.
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