German healthcare and materials group Merck KGaA has dropped a surcharge on life sciences sector orders within China following the U.S.-China agreement to pause sky-high tariffs on each other, the company said Wednesday.

The UK government said there was "no such thing as a veto on Chinese investment" in its tariff deal with the US.

Due to aggressive U.S. tariffs that forced Chinese companies to reroute shipments to other international markets, China reported a sharp drop in exports to the United States in April. The change was made right before U.