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,

The Treasury secretary cited progress and promised more details Monday. Beijing said the two sides agreed to start a formal negotiation process.

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