US Commerce Secretary · Chinese Vice Premier to hold trade talks in Spain next week “Economic · Security discussions”

Fourth high-level meeting since the outbreak of the trade war … TikTok · Money laundering issues also on the agenda

Trump withdraws nomination of China hawk for key position in US-China tech war

U.S. Treasury Secretary Steven Mnuchin (left) and Chinese Vice Premier Han Zheng [EPA=Yonhap News Agency file photo. Resale and DB prohibited]

U.S. Treasury Secretary Steven Mnuchin is scheduled to meet with Chinese Vice Premier Han Zheng in Spain next week for trade talks, Reuters reported on the 11th (local time).

The U.S. Department of the Treasury said in a statement that Mnuchin will visit Spain and the United Kingdom from the 12th to the 18th, and that he will meet with Vice Premier Han in Madrid, Spain next week to continue discussions on trade, economy, and national security.

The Treasury Department explained that agenda items related to the operating plan of TikTok, a popular Chinese video-sharing platform, and joint efforts to eradicate money laundering will also be on the discussion table.

The U.S. has been attempting to negotiate with China over the sale of TikTok's U.S. business following the enactment of the 'TikTok Ban Act'. In addition, the U.S. is requesting cooperation from China, suspecting the involvement of Chinese forces in the money laundering activities of drug cartels.

The meeting between the two officials marks the fourth high-level trade meeting since the U.S.-China trade war was triggered by U.S. President Donald Trump's 'tariff bombshell'.

The two countries, which had been in a standoff by successively raising tariff rates in April, agreed to significantly lower their tariff rates by 115 percentage points each during the first high-level meeting held in Geneva, Switzerland in May. At the time, both sides canceled 91 percentage points of the additional 115% tariff and deferred the application of the remaining 24 percentage points for 90 days.

Subsequently, during the second meeting held in London, UK in June, and the third meeting held in Stockholm, Sweden in July, both sides agreed to extend the tariff deferral by another 90 days. According to the White House, the deferral period is until November 10, 0:01 AM.

Amidst this, President Trump's withdrawal of the nomination of an individual known as a China hawk for a key position in the U.S. Department of Commerce on the 11th has drawn attention to the background of this decision.

According to Reuters, President Trump withdrew the nomination of Landon Hyder for the position of Assistant Secretary of Commerce for Export Administration. The Assistant Secretary for Export Administration is responsible for overseeing the export control of U.S. strategic materials and advanced technologies.

Candidate Hyder worked for the U.S. House Select Committee on China and was deeply involved in global regulations on AI chips and regulations related to business with Chinese biotech companies.

Reuters pointed out that the position of Assistant Secretary of Commerce for Export Administration is a "key position in the U.S.-China tech war" and that this move raises questions about whether the Trump administration is "signaling a more accommodating approach to China."