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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 concer...
The United States and China have reached a tentative agreement to curb the flow of chemicals used to make fentanyl, marking a rare moment of cooperation between the two rivals.
Under the deal, Beijing will tighten export controls on thirteen precursor chemicals commonly used in the illicit production of fentanyl, the potent synthetic opioid blamed for tens of thousands of overdose deaths each year in the U.S.
The move follows months of negotiations aimed at choking off the supply chain that runs from Chinese chemical firms through Latin American cartels and into North America.
In return, Washington is preparing to reduce or suspend certain tariffs on Chinese industrial goods, in what officials described as a “balanced” approach linking trade incentives to progress on public health and law enforcement.
“China’s decision to restrict these exports is an important step toward saving lives on both sides of the Pacific,” a senior U.S. official said, adding that the agreement shows how the two countries “can work together on issues of shared concern.”
Chinese state media framed the move as part of a “joint commitment to safeguard global health and security,” emphasising Beijing’s willingness to cooperate internationally.
The deal comes as America continues to grapple with a devastating opioid epidemic.
Fentanyl and other synthetic opioids were linked to more than 70,000 American deaths last year, according to government data.
Washington has long accused Chinese suppliers of providing the raw materials later processed in Mexico and smuggled across the southern border.
The agreement builds on commitments made during the recent Trump-Xi summit, where both leaders pledged to revive cooperation on counternarcotics efforts.
While final details and enforcement mechanisms are still being worked out, officials on both sides say the initiative reflects an attempt to stabilise relations after years of trade and geopolitical friction.
If fully implemented, the pact could make a modest but tangible step toward rebuilding trust between Washington and Beijing and tackling one of the world’s most lethal public health crisis.
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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