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EconomyChina

U.S. says China to buy $17 billion of agricultural goods annually

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Yash Roy
Yash Roy
and
Bloomberg
Bloomberg
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By
Yash Roy
Yash Roy
and
Bloomberg
Bloomberg
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May 17, 2026, 2:24 PM ET
Dan Duffy uses a tractor to plant soybeans on land he farms with his brother on April 28, 2025 near Dwight, Illinois.
Dan Duffy uses a tractor to plant soybeans on land he farms with his brother on April 28, 2025 near Dwight, Illinois. Scott Olson/Getty Images
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China has agreed to purchase at least $17 billion of agriculture products from the US annually through 2028, the White House said in a fact sheet detailing President Donald Trump’s two-day summit in China. 

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A day earlier, the Chinese Ministry of Commerce released its own readout of the meeting, which said the US and China will adopt a series of measures, including mutually cutting levies on certain products. China did not provide specifics, adding that teams from both countries were still negotiating details, and the White House release was silent on tariffs. 

Read More: China Says to Cut Levies, Expand Farm Trade After Talks With US

Trump’s two-day visit to Beijing was the first visit to China by a US president in nearly a decade, and both leaders struck a positive tone on US-China relations. 

In the fact sheet, the White House also said that both “leaders agreed 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.”

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter delivers clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
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