U.S. Treasury Secretary Scott Bessent hailed the progress made with China on tackling fentanyl at trade talks in Switzerland, saying Beijing is "now serious" about the issue. The talks also resulted in the suspension for 90 days of very high tariffs between the world's two largest economies,

Under the deal, the U.S. will reduce 125% reciprocal tariffs imposed on Chinese imports for 90 days by 110% to a 10% baseline tariff, which matches the tariffs the Trump administration has imposed on...