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,

Treasury Secretary Scott Bessent told CNBC on Monday that China appears to be taking seriously the issue of curbing fentanyl entering the U.S. following trade negotiations. President Donald Trump has levied 20% tariffs on China for its role in the American fentanyl epidemic,

The US president earlier said there had been a "total reset" in trade relations following a day of talks between the nations.