BEIJING: The United States and China reached a new agriculture trade agreement after talks between Donald Trump and Xi Jinping in Beijing.
As per reports, Both sides agreed to strengthen trade ties and improve market access for agricultural products.
The United States confirmed that China will buy at least $17 billion worth of American farm products every year from 2026 to 2028. However, this amount does not include earlier soybean purchase deals made in 2025.
Declining U.S. farm imports in China:
China has reduced its dependence on U.S. agricultural goods in recent years. In 2024, China imported about 20% of its soybeans from the United States, while the share stood at 41% in 2016.
At the same time, total trade between the two countries dropped sharply. It fell by 65.7% in 2024 and reached $8.4 billion. Tariffs and trade tensions caused this decline.
The White House says China agreed to buy at least $17B of U.S. agricultural products annually through 2028. pic.twitter.com/555RNjNutY
— Shay Boloor (@StockSavvyShay) May 17, 2026
Market access and food imports:
Under the new agreement, China will also cooperate with U.S. regulators. It will work to remove restrictions on American beef facilities. In addition, China will restart poultry imports from U.S. states that remain free from avian influenza.
These steps aim to reopen food trade channels and improve agricultural cooperation between both countries.
New trade and investment boards:
Both governments also agreed to create a U.S.–China Board of Trade and a U.S.–China Board of Investment. These bodies will help solve market access issues and promote smoother trade flows.
Chinese Foreign Minister Wang Yi said these boards will support stronger economic links between the two major economies. Moreover, both sides plan to reduce tariffs under a fair trade system.
Future diplomatic plans:
Both leaders, Donald Trump and Xi Jinping, agreed to build a more balanced and fair relationship. Xi Jinping may visit Washington later this year.
In addition, both countries will host major global events, including the G20 and APEC summits. These meetings will further shape future economic cooperation.
