18 May,2026 08:52 AM IST | Washington DC | mid-day online correspondent
Pic/AFP
China has agreed to purchase at least USD 17 billion worth of American agricultural products annually over the next three years following talks between US President Donald Trump and Chinese President Xi Jinping, according to a statement issued by the White House.
The announcement came after Trump's visit to China, the first by a US president since 2017. The White House said both leaders reached agreements on a range of issues aimed at improving bilateral ties, boosting trade and increasing economic cooperation between the two countries.
Under the agreement, China will purchase at least USD 17 billion worth of US agricultural products annually in 2026, 2027 and 2028. The commitment is in addition to soybean purchase agreements made in October 2025.
The White House also said China restored market access for American beef by renewing listings for more than 400 US beef facilities and approving additional facilities. China also agreed to work with US regulators to remove suspensions on American beef facilities.
In another move, China resumed poultry imports from US states that the United States Department of Agriculture had declared free from highly pathogenic avian influenza.
According to the White House, Trump and Xi agreed that the United States and China should build a "constructive relationship of strategic stability" based on fairness and reciprocity. The two leaders also agreed to continue diplomatic engagement in the coming months.
Trump is expected to host Xi in Washington later this year. Both countries also pledged support for each other as hosts of the G20 and APEC summits scheduled in 2026.
The two countries also agreed to establish two new mechanisms - the US-China Board of Trade and the US-China Board of Investment - to improve bilateral economic coordination.
According to the White House, the Board of Trade will oversee bilateral trade involving non-sensitive goods, while the Board of Investment will serve as a platform for discussions on investment-related matters between the two governments.
The White House said China agreed to address American concerns regarding shortages of rare earths and critical minerals, including yttrium, scandium, neodymium and indium. Beijing also agreed to review restrictions on the sale of rare earth processing equipment and related technologies.
In a major aviation-related announcement, China approved an initial purchase of 200 Boeing aircraft for Chinese airlines. The White House described it as China's first commitment to buy Boeing planes since 2017 and said the agreement would support manufacturing jobs in the US.
The White House statement added that Trump and Xi discussed international security matters, including Iran and North Korea. Both leaders agreed that Iran should not possess nuclear weapons and called for the reopening of the Strait of Hormuz without tolls imposed by any country or organisation.
The two leaders also reaffirmed their shared commitment towards the denuclearisation of North Korea, the statement added.
(With inputs from ANI)
