Overview

• The U.S. and China reached a temporary agreement in Geneva to suspend most punitive tariffs for 90 days while retaining a 20% tariff on fentanyl-related goods.
• Treasury Secretary Scott Bessent highlighted China's increased seriousness in addressing fentanyl precursors, citing a commitment to deeper counter-narcotics cooperation.
• China sent a deputy minister for security, described as their 'fentanyl expert,' to engage in detailed discussions during the Geneva meetings.
• President Trump emphasized that tariff relief is tied to China's commitment to curbing fentanyl trafficking, which has fueled the U.S. opioid crisis.
• Bessent expects further bilateral talks on fentanyl enforcement in the coming weeks to solidify China's commitments.