Biden, Xi to announce deal for China to crack down on fentanyl -Bloomberg

U.S. President Joe Biden and Chinese President Xi Jinping are set to announce an agreement for China to crack down on the manufacture and export of fentanyl, Bloomberg reported on Monday, citing people familiar with the matter.

Bloomberg reported that under the deal, which is still being finalized, China would go after chemical companies to halt the flow of fentanyl and the source material used to make it.

In return, Bloomberg reported, the Biden administration would lift restrictions on China's forensic police institute. The deal is set to be announced on Wednesday when the two leaders meet on the sidelines of the Asia-Pacific Economic Cooperation summit in San Francisco, Bloomberg reported.