China Agrees to Buy $17 Billion in US Agricultural Goods Annually

China agreed to purchase at least $17 billion worth of American agricultural products annually through 2028, according to a detailed White House document released following U.S. President Donald Trump’s two-day summit in Beijing.

The agreement marks one of the most significant economic outcomes from Trump’s first visit to China in nearly a decade, as both Washington and Beijing adopted a notably more positive tone regarding bilateral relations.

A day earlier, China’s Ministry of Commerce issued its own summary of the talks, stating that both countries would implement a series of measures, including reciprocal tariff reductions on selected products. However, Beijing did not provide detailed figures, saying negotiations on implementation remain ongoing, while the White House statement made no direct reference to tariffs.

The White House said the annual $17 billion commitment would come in addition to previously pledged Chinese purchases of U.S. soybeans announced during last year’s trade truce between the two countries.

The latest agreement follows earlier unsuccessful efforts by Trump to secure large-scale Chinese purchases of American goods. Under the 2020 Phase One trade deal brokered during Trump’s first term, China pledged to buy an additional $200 billion worth of U.S. agricultural, energy, and manufactured products over two years, targets that were ultimately not met.

While the COVID-19 pandemic complicated implementation of that agreement, critics also argued that the purchase goals themselves were overly ambitious.

In recent months, China has increasingly shifted toward cheaper Brazilian soybeans after fulfilling an initial tranche of U.S. purchases agreed upon during the earlier trade ceasefire.

The White House also confirmed that China has reopened its market to American beef imports by renewing expired registrations for more than 400 U.S. beef facilities. Beijing is additionally expected to work with American regulators to restore imports of U.S. poultry products.

Prior to the summit, reports had already indicated that China was renewing import licenses for American beef exporters after allowing hundreds of licenses to lapse during the tariff war initiated by Trump.

China’s Ministry of Commerce said Saturday that the latest outcomes demonstrate that both countries “can find solutions through dialogue and cooperation,” adding that many of the terms had been discussed during earlier trade negotiations held in South Korea before the Trump-Xi summit.

Beyond agriculture, the United States said China also agreed to address American concerns over shortages and export restrictions involving rare earth elements and other strategic minerals.

The White House further stated that Trump and Chinese President Xi Jinping agreed that Iran “cannot possess a nuclear weapon,” called for reopening the Strait of Hormuz, and agreed that no country or organization should impose transit fees through the vital shipping route.

The two leaders also reaffirmed their shared objective of denuclearizing North Korea.

During his return flight to the United States from Asia, Trump said he also discussed potentially easing sanctions on Chinese energy companies purchasing Iranian oil.

The White House separately reaffirmed plans for Xi Jinping to visit the United States later this fall, signaling continued diplomatic engagement between the world’s two largest economies.