China Commits to Buying $17 Billion in U.S. Agricultural Goods Annually Through 2028
The White House said China agreed to purchase at least $17 billion of U.S. agricultural products each year through 2028 following a two-day summit between President Donald Trump and Chinese President Xi Jinping. The commitment adds to earlier soybean purchase pledges made in October 2025.
BenzingaU.S. agricultural products annually through 2028, the White House said in a fact sheet released Sunday. The agreement stems from the two-day summit in Beijing between President Donald Trump and Chinese President Xi Jinping. U.S. president to China in nearly a decade.
A day earlier, China’s Ministry of Commerce said the two countries would discuss tariff reductions through a newly established trade board. ” The White House fact sheet did not mention tariff details. Chinese officials said teams from both countries were still negotiating specifics.
The White House fact sheet also said both leaders agreed that Iran cannot have a nuclear weapon, called to reopen the Strait of Hormuz, and agreed that no country or organization can be allowed to charge tolls. The commitment to agricultural purchases will be in addition to soybean purchase commitments made in October 2025.
Key Facts
Story Timeline
5 events- May 18, 6:02 AM ET
1 new source added: Al Jazeera
1 sourceAl Jazeera - May 17, 8:02 PM ET
1 new source added: Reuters
1 sourceReuters - May 15, 2026
President Donald Trump concluded two-day summit in Beijing with Chinese President Xi Jinping.
3 sourcesFortune · SCMPNews · Benzinga - May 16, 2026
China’s Ministry of Commerce said both countries agreed in principle to lower tariffs on certain products.
2 sourcesFortune · SCMPNews - May 17, 2026
White House released fact sheet stating China will buy at least $17 billion in U.S. agricultural goods annually through 2028.
5 sourcesFortune · SCMPNews · Benzinga · @unusual_whales
Potential Impact
- 01
U.S. agricultural exporters gain predictable annual demand from China through 2028.
- 02
Tariff reduction talks will continue through a new bilateral trade board.
Transparency Panel
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