Washington DC (US), May 18, 2026, BNN Web Staff: The United States and China have announced a major expansion in economic cooperation following US President Donald Trump’s visit to China, with Beijing agreeing to purchase at least USD 17 billion worth of American agricultural products every year over the next three years.
According to a statement issued by the White House, the agreement was reached during talks between Trump and Chinese President Xi Jinping, where both leaders also discussed trade stability, global security and long-term economic cooperation.
The White House said China will import a minimum of USD 17 billion worth of US agricultural goods annually in 2026, 2027 and 2028, in addition to earlier soybean purchase commitments made last year. Beijing has also restored market access for American beef by renewing approvals for more than 400 US beef facilities and adding new export listings.
China further agreed to work with US regulators to remove restrictions on suspended American beef facilities and resume poultry imports from US regions declared free from bird flu outbreaks by the US Department of Agriculture.
The two leaders agreed to strengthen what the White House described as a “constructive relationship of strategic stability” based on fairness and reciprocal cooperation. President Trump is expected to host President Xi in Washington later this year, while both nations will support each other during the G20 and APEC summits scheduled for 2026.
Apart from trade, the talks also focused on international security concerns. Both sides agreed that Iran should not possess nuclear weapons and called for the reopening of the Strait of Hormuz without any tolls or restrictions imposed by any country or organisation. Trump and Xi also reaffirmed their support for the denuclearisation of North Korea.
In a major step towards improving economic coordination, the US and China announced the formation of two new institutions — the US-China Board of Trade and the US-China Board of Investment. These platforms are expected to help both governments manage bilateral trade in non-sensitive sectors and discuss investment-related matters directly.
The White House also highlighted agreements aimed at addressing American concerns over shortages of rare earth minerals and critical materials used in advanced industries and technology manufacturing. China reportedly agreed to ease restrictions related to the production and processing of minerals such as yttrium, scandium, neodymium and indium.
Additionally, China approved an initial order of 200 American-made Boeing aircraft for Chinese airlines, marking Beijing’s first major Boeing purchase commitment since 2017. The White House said the deal would support thousands of high-skilled manufacturing jobs in the United States.
