• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

OpenAI says its AI models secretly broke out of a secure test environment and hacked into AI company Hugging Face in order to cheat on an evaluation

2

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

3

Mathematicians grapple with a ‘very rapid and very unsettling change’ as AI cracks yet another century-old problem

1

OpenAI says its AI models secretly broke out of a secure test environment and hacked into AI company Hugging Face in order to cheat on an evaluation

2

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

3

Mathematicians grapple with a ‘very rapid and very unsettling change’ as AI cracks yet another century-old problem
FinanceThe Biden administration
Asia

Biden administration announces sweeping legal actions against Chinese fentanyl chemical producers

By
Fatima Hussein
Fatima Hussein
,
Eric Tucker
Eric Tucker
, and
The Associated Press
The Associated Press
Down Arrow Button Icon
By
Fatima Hussein
Fatima Hussein
,
Eric Tucker
Eric Tucker
, and
The Associated Press
The Associated Press
Down Arrow Button Icon
October 4, 2023, 5:11 AM ET
U.S. Attorney General Merrick Garland holds a press conference to announce disruptions of the fentanyl precursor chemical supply chain at the Justice Department in Washington, D.C. on Oct. 3, 2023.
U.S. Attorney General Merrick Garland holds a press conference to announce disruptions of the fentanyl precursor chemical supply chain at the Justice Department in Washington, D.C. on Oct. 3, 2023. Stefani Reynolds—AFP/Getty Images
Add Fortune on Google for similar content.

The Biden administration took aim Tuesday at the fentanyl trafficking threat, announcing a series of indictments and sanctions against Chinese companies and executives blamed for importing the chemicals used to make the deadly drug.

Recommended Video

Officials described the actions, which include charges against eight Chinese companies accused of advertising, manufacturing and distributing precursor chemicals for synthetic opioids like fentanyl, as the latest effort in their fight against the deadliest overdose crisis in U.S. history. The moves come one day before senior administration officials are set to visit Mexico, whose cartels are part of the global trafficking network, for meetings expected to involve discussion of the drug threat.

“We know that this network includes the cartels’ leaders, their drug traffickers, their money launderers, their clandestine lab operators, their security forces, their weapons suppliers, and their chemical suppliers,” Attorney General Merrick Garland said at a news conference. “And we know that this global fentanyl supply chain, which ends with the deaths of Americans, often starts with chemical companies in China.”

Besides charging eight companies, the Justice Department also indicted 12 executives for their alleged roles in drug trafficking. In a coordinated action, the Treasury Department announced sanctions against 28 people and companies — mostly in China but also in Canada — that will cut them off from the U.S. financial system and prohibit anyone in the U.S. from doing business with them. None of those charged has been arrested, but Garland said prosecutors intended to “bring every one of these defendants to justice.”

“It’s the latest step in the rapid scaling up of our work targeting the financial flows that power the global illicit drug trade,” said Deputy Treasury Secretary Wally Adeyemo. He said Treasury is also seeking out the friends, family members, and affiliates of the people who benefit from drug sales.

“If you benefit from the proceeds of this illicit activity, we are going to come after your assets,” he said.

Mexico and China are the primary sources for fentanyl and fentanyl-related substances trafficked directly into the U.S., according to the Drug Enforcement Administration, which is tasked with combating illicit drug trafficking. Nearly all the precursor chemicals that are needed to make fentanyl come from China. And the companies that make the precursors routinely use fake return addresses and mislabel the products in order to avoid being caught by law enforcement.

One of the examples cited by the Justice Department involves a Chinese pharmaceutical technology company that advertised xylazine, a horse tranquilizer that is often mixed to fentanyl to ensure a more potent high, and shipped the chemicals to the U.S. and to Mexico. One of the purchasers in Mexico, officials said, was a drug trafficker associated with the Sinaloa Cartel.

This latest action follows a series of measures taken this year against members of the Sinaloa cartel, cash couriers and cartel fraud schemes.

Republicans have complained, however, that the administration isn’t doing enough to stop fentanyl and the issue is likely to figure prominently in next year’s presidential campaign.

In February, 21 Republican state attorneys general wrote a letter to President Joe Biden and Secretary of State Antony Blinken calling on them to designate Mexican drug cartels as foreign terrorist organizations. Last year a group of Republican attorneys general asked the president to declare fentanyl a weapon of mass destruction. No such actions have been taken.

Fentanyl, a powerful opioid, is the deadliest drug in the U.S. today. The Centers for Disease Control and Prevention states that drug overdose deaths have increased more than sevenfold from 2015 to 2021.

More than 100,000 deaths a year have been linked to drug overdoses since 2020 and about two-thirds of those are related to fentanyl. The death toll is more than 10 times as many drug deaths as in 1988, at the height of the crack epidemic.

The U.S. has taken a slew of actions to stem the tide of fentanyl coming into the country. Overall, the Biden administration has imposed over 200 sanctions related to the illegal drug trade.

State lawmakers nationwide are responding to the deadliest overdose crisis in U.S. history by pushing harsher penalties for possessing fentanyl.

In a speech at the Family Summit on Fentanyl last week, Garland said the Justice Department was sending out some $345 million in federal funding over the next year, including money to support mentoring for at-risk young people and increase access to the overdose-reversal drug naloxone.

On Capitol Hill, a bipartisan group of legislators out of the Senate Banking and Armed Services committees has introduced legislation that would declare fentanyl trafficking a national emergency and prod Treasury to use its sanctions authority to quell the proliferation of the drug in the U.S.

It would also impose reporting requirements and enable the president to confiscate sanctioned property of fentanyl traffickers to use for law enforcement efforts.

About the Authors
By Fatima Hussein
See full bioRight Arrow Button Icon
By Eric Tucker
See full bioRight Arrow Button Icon
By The Associated Press
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in Finance

‘It’s called StreetEasy, not StreetHard’: Mamdani cracks down on scourge of ‘housefishing’ and ‘real estate slop’
Real EstateHousing
‘It’s called StreetEasy, not StreetHard’: Mamdani cracks down on scourge of ‘housefishing’ and ‘real estate slop’
By Tatiana SatauaJuly 22, 2026
4 hours ago
As Washington panics about Chinese AI, Jensen Huang says open-source models like Kimi are ‘excellent’ and should be embraced, not banned
AIChina
As Washington panics about Chinese AI, Jensen Huang says open-source models like Kimi are ‘excellent’ and should be embraced, not banned
By Marco Quiroz-GutierrezJuly 22, 2026
4 hours ago
Man holding his hands open
InvestingStock
A new group of stocks is transforming global equities markets. Meet ‘Memi,’ the $3 trillion sector fueled by AI’s insatiable hunger for memory chips
By Amanda GerutJuly 22, 2026
5 hours ago
Scott Bessent speaks inside the Oval Office.
EconomyU.S. Department of the Treasury
Scott Bessent casually says the U.S. has more than $1 trillion in gold—and that it doesn’t matter for the dollar
By Sasha RogelbergJuly 22, 2026
6 hours ago
Canadian Prime Minister Mark Carney speaks to US President Donald Trump in front of a window.
EconomyDonald Trump
Carney and Trump agree to speed up trade negotiations a day after Trump puts a 50% tariff on Canadian goods
By The Associated Press and Jim MorrisJuly 22, 2026
6 hours ago
Trump Accounts draw 6.5 million sign-ups, but some families are still waiting on the promised $1,000 funding
InvestingDonald Trump
Trump Accounts draw 6.5 million sign-ups, but some families are still waiting on the promised $1,000 funding
By The Associated Press and Moriah BalingitJuly 22, 2026
7 hours ago

Most Popular

OpenAI says its AI models secretly broke out of a secure test environment and hacked into AI company Hugging Face in order to cheat on an evaluation
Cybersecurity
OpenAI says its AI models secretly broke out of a secure test environment and hacked into AI company Hugging Face in order to cheat on an evaluation
By Jeremy Kahn and Emily ForliniJuly 21, 2026
1 day ago
Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
Success
Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
By Sasha RogelbergJuly 20, 2026
2 days ago
Mathematicians grapple with a ‘very rapid and very unsettling change’ as AI cracks yet another century-old problem
AI
Mathematicians grapple with a ‘very rapid and very unsettling change’ as AI cracks yet another century-old problem
By Eva RoytburgJuly 21, 2026
1 day ago
The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind
Real Estate
The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind
By Nick LichtenbergJuly 22, 2026
8 hours ago
Despite a $156 million contract, Knicks star Jalen Brunson still calls his parents for financial advice any time he makes a big purchase
Success
Despite a $156 million contract, Knicks star Jalen Brunson still calls his parents for financial advice any time he makes a big purchase
By Emma BurleighJuly 21, 2026
1 day ago
‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion
Success
‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion
By Sydney LakeJuly 20, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.