Ammon News - U.S. and Chinese officials head into their second day of trade talks in Madrid on Monday.

Both parties are looking to improve trade relations as Washington demands its allies place tariffs on imports from China over its purchases of Russian oil. Also on the table is the looming September 17 deadline for divesting Chinese short-video app TikTok.

China's Vice Premier He Lifeng and top trade negotiator Li Chenggang lead the Chinese delegation

U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer head the American side.

This is the fourth time in four months that the delegations have met to try to repair fractured trade ties. In Stockholm in July, the two sides agreed in principle to extend for 90 days a trade truce that sharply reduced triple-digit retaliatory tariffs on both sides and restarted the flow of rare-earth minerals from China to the United States.

Trump has approved the extension of current U.S. tariff rates on Chinese goods, totaling about 55%, until November 10.

The first day of talks at the baroque Palacio de Santa Cruz, which houses Spain's foreign ministry, ended after about six hours.

Reuters