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,

Recent negotiations between the US and China have set a defined range for tariffs, establishing a 'floor' and 'ceiling' for potential changes. This framework aims to stabilize the economic landscape,