Beijing commits to buying $17 billion in U.S. agricultural goods annually, including soybeans, while addressing rare earth supply concerns.
China has agreed to purchase at least $17 billion of U.S. agricultural products annually through 2028, the White House announced. The deal follows a bilateral summit between U.S. President Donald Trump and Chinese President Xi Jinping in Beijing last week, marking a tangible outcome amid ongoing trade negotiations.
The commitment builds on previous agreements, including a 2025 pledge to buy 25 million metric tons of U.S. soybeans annually for three years. While this weekend’s announcement did not specify soybean volumes, it confirmed renewed access for U.S. beef and poultry exports. China’s Commerce Ministry acknowledged agricultural trade promotion but omitted details on soybeans or rare earths.
The U.S. also secured Chinese cooperation on addressing shortages of critical rare earth minerals, such as yttrium and neodymium, which are essential for tech and defense industries. Beijing dominates the global supply chain for these materials.