The fentanyl trade—which claimed tens of thousands of American lives in 2024 alone—is a multibillion-dollar business supported by sophisticated money laundering schemes, a new report from Treasury Secretary Scott Bessent revealed Wednesday.
Bessent released the report amid President Donald Trump’s push to use tariffs as a weapon against foreign nations’ reputed abuses of their financial relationship with the United States.
The president previously declared a national emergency involving the Mexican fentanyl trade in order to levy tariffs against the country.
