China will buy at least $17bn worth of US agricultural goods each year through 2028, with a 2026 target applied proportionately for the remainder of the year. The purchases follow commitments made by US President Donald Trump and Chinese leader Xi Jinping. China will also buy at least 87 million metric tonnes of US soya beans under an earlier agreement. Market access for US beef will be restored by renewing expired listings for more than 400 production facilities. China will resume imports of poultry from states identified by the US Department of Agriculture as free of avian influenza. Two new bodies, the US-China Board of Trade and the US-China Board of Investment, will manage trade and investment between the sides.
"China will buy at least $17bn worth of agricultural goods from the United States annually following US President Donald Trump and Chinese leader Xi Jinping's summit in Beijing, the White House has said. China will make the purchases through 2028, with the 2026 target applying to the remainder of the year on a proportionate basis, according to a fact sheet released on Sunday."
"The White House said the deal is in addition to China's commitment to buy at least 87 million metric tonnes of US soya beans, which was made at Trump and Xi's summit in South Korea in October. China will also restore market access for US beef by renewing the expired listings for more than 400 production facilities, and resume imports of poultry from states determined by the US Department of Agriculture to be free of avian influenza, according to the fact sheet."
"Trump and Xi also agreed to establish two new bodies the US-China Board of Trade and the US-China Board of Investment to manage trade and investment between the sides, the White House said. China has yet to confirm or comment on the White House's announcement. The Chinese Embassy in Washington, DC, did not immediately respond to a request for comment."
"The White House's announcement comes after Trump and Xi on Friday wrapped up a two-day summit that was heavy on pageantry and camaraderie but light on concrete agreements. During their talks in Beijing, Trump and Xi sought greater alignment on economic issues and trade, while largely skirting the sensitive issues of Taiwan and the US-Israel war on Iran."
#us-china-trade #agricultural-imports #soybeans #beef-and-poultry-market-access #economic-cooperation
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