China says it will make adjustments to the catalogue of drug-related precursor chemicals and will require licences for export of certain chemicals to the U.S., Canada and Mexico.
The country’s Commerce Ministry made the announcement on Monday. The move follows U.S. President Donald Trump halving the tariffs on Chinese goods that were imposed as a punishment over the flow of fentanyl to 10%. This change came after President Trump met with Chinese leader Xi Jinping in South Korea 30 October.
Xi will work "very hard to stop the flow" of fentanyl, a deadly synthetic opioid that is the leading cause of American overdose deaths, Trump told reporters after the talks.
The deal signalled a shift for Trump officials, who had insisted that punitive measures would remain in place until China proved it was cracking down on fentanyl supply chains.
Chinese officials vehemently defend their record on fentanyl, saying they have already taken extensive action to regulate precursor chemicals used to make the drug and accuse Washington of using the issue as "blackmail."
Meeting in South Korea
The Xi-Trump deal went beyond fentanyl and included the resumption of U.S. soybean purchases by China.
Beijing agreed to pause export curbs unveiled in October on rare earths, elements with vital roles in many modern technologies.
FBI in Beijing
Meanwhile, the Federation Bureau of Investigation (FBI) Director Kash Patel visited China last week to discuss fentanyl and law enforcement issues according to two people familiar with his trip said.
A person briefed on Patel's trip said the FBI director flew into Beijing on Friday and stayed for about a day. He held talks with Chinese officials on Saturday, the person added.
Patel's visit to Beijing was not officially announced by either the U.S. or China and is being reported by Reuters for the first time.
Chinese foreign ministry spokesperson Lin Jian said on Monday that he was not aware of the trip. China's Ministry of Public Security and the U.S. embassy in Beijing did not respond to requests for comment.
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Oil prices fell after the U.S. expanded economic sanctions on Iran, as Tehran vowed to retaliate and warned it had tools to respond, raising concerns over potential disruption to regional oil supplies.
Ukraine’s President Volodymyr Zelenskyy said on Monday that Kyiv wants peace but will not surrender to Russia, as foreign leaders joined Independence Day events marking 35 years since Ukraine’s independence.
Kyiv has recently received a small number of U.S.-made Patriot interceptors capable of downing Russian ballistic missiles, Ukrainian President Volodymyr Zelenskyy has said. It comes as Britain and France pledged stronger military support for Ukraine.
Only four commodity vessels crossed the Strait of Hormuz on Sunday, following 13 transits a day earlier, as disruptions continue to restrict traffic through the key energy chokepoint.
A newly created pro-government political party has secured a commanding victory in Kazakhstan's snap parliamentary election, according to exit polls, strengthening President Kassym-Jomart Tokayev's influence at a pivotal moment in the country's political transition.
Kyiv has recently received a small number of U.S.-made Patriot interceptors capable of downing Russian ballistic missiles, Ukrainian President Volodymyr Zelenskyy has said. It comes as Britain and France pledged stronger military support for Ukraine.
Canada has announced nearly $20 billion in retaliatory tariffs on U.S. goods and billions in support for workers and businesses, escalating its trade dispute with Washington after President Donald Trump's latest duties took effect.
Pakistani exporters are facing soaring shipping costs to the U.S., with freight rates more than tripling on some routes as the Iran-U.S. conflict drives up war-risk insurance and fuel costs.
The trial of a Libyan man accused of building the bomb that destroyed Pan Am Flight 103 over the Scottish town of Lockerbie in 1988, killing 270 people, has been postponed by a U.S. federal judge.
France and Saudi Arabia have agreed on plans for a $7 billion manga-themed amusement complex near Paris, inspired by the hugely popular Japanese franchise Dragon Ball Z.
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