Beijing commits $17bn in U.S. agricultural purchases after Trump‑Xi summit

President Donald Trump’s White House said on May 17 that China agreed to buy at least $17 billion of U.S. agricultural goods a year through 2028 after Trump’s two-day summit with Chinese President Xi Jinping in Beijing. The U.S. account said the package restores market access for American beef, resumes poultry imports from U.S. states deemed free of bird flu and adds to soybean commitments China made in October 2025. (cnbc.com) (abcnews.com) China’s public readout was narrower. Beijing’s Commerce Ministry said the two sides agreed to promote agricultural trade, work on non-tariff barriers and market-access issues, and discuss reciprocal tariff reductions on a specific range of products, but it did not confirm the $17 billion figure in its statement. (cnbc.com) ### Where does the $17 billion figure come from? The $17 billion number came from a White House fact sheet released Sunday after Trump returned from Beijing. The White House said China would buy at least $17 billion of U.S. agricultural goods annually through 2028, in addition to soybean purchase commitments made last year. (cnbc.com) Associated Press, ABC News and CNBC all reported the figure from the U.S. side. China’s Commerce Ministry, by contrast, said only that both countries would expand two-way trade, including farm goods, and make progress on market-access problems. (cnbc.com) ### Which farm products were named? The White House named beef, poultry and soybeans in its description of the agreement. It said China would restore market access for U.S. beef and resume poultry imports from U.S. states that the U.S. Department of Agriculture determines are free of bird flu. (cnbc.com) U.S. Department of Agriculture trade data cited by AP showed China’s imports of U.S. agricultural goods fell to $8 billion in 2025 from a peak of $38 billion in 2022. The same report said soybean purchases dropped to $3 billion in 2025 from nearly $18 billion in 2022. (abcnews.com) ### What else did Washington and Beijing say they agreed to? CNBC reported that the White House also said China would address U.S. concerns over rare earth shortages and that both sides agreed to establish boards of trade and investment. The White House fact sheet described those bodies as the U.S.-China Board of Trade and the U.S.-China Board of Investment. (abcnews.com) China’s official statement emphasized different items. Beijing said the two countries agreed in principle to lower tariffs on products of mutual concern on an equivalent scale and confirmed discussions covering agricultural trade and aircraft, according to Chinese government and media reports cited by Politico and CNBC. (abcnews.com) ### What are the new boards supposed to do? The White House said the Board of Trade will let both governments manage bilateral trade across non-sensitive goods, while the Board of Investment will handle investment issues. CNBC reported that both U.S. and Chinese readouts referred to new mechanisms for trade and investment discussions, though each side stressed different details. (cnbc.com) Chinese government language described the bodies as trade and investment councils that would address each side’s concerns in economic cooperation. (english.gov.cn) It also said the trade council would discuss tariff reductions on specific products. ### What happens next? NBC News reported that Trump announced in Beijing that Xi will make a reciprocal visit to the United States on Sept. 24. The White House said the new trade and investment bodies will be the channels for follow-up talks on market access, tariffs and other commercial disputes raised during the summit. (nbcnews.com) (english.gov.cn) (whitehouse.gov)