US-China step into a new phase

With the spotlight turning away from the unilateral US tariffs and onto the future of TikTok in America, China seems to have dominated the latest round of the ongoing trade talks with Washington. At the conclusion of the Madrid round last week, both China and the US said they had reached a basic framework consensus on resolving the TikTok dispute, alongside commitments to reduce investment barriers and expand cooperation. The consensus on the social app was followed by a telephone call on Friday between US President Donald Trump and Chinese President Xi Jinping. Trump described the talks as “very productive” and said progress was made on key issues, including a potential TikTok deal, though no final agreement was announced.