The USSEC (US Soybean Export Council) booth on November 8, 2025 at the 8th China International Import Expo in Shanghai.
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BEIJING – China has agreed to buy U.S. soybeans and address American access to rare earths, the White House said Sunday, pointing to some of the most tangible results yet from a high-profile bilateral summit last week.
US President Donald Trump concluded two days of meetings in Beijing with Chinese President Xi Jinping on Friday. The two leaders have also agreed to meet in the US in September.
China will buy at least $17 billion worth of U.S. agricultural goods annually through 2028, the White House said, noting that this would be “in addition to soybean purchase commitments made in October 2025.”
After a Trump-Xi meeting in South Korea last fall, the United States said China had agreed to buy at least 25 million tons of American soybeans for each of the following three years.
This weekend’s report, however, did not specify an amount but said China was once again allowing the sale of U.S. beef and poultry. The Chinese Ministry of Commerce also did not provide any information on the quantity or name of the soybeans, noting that both countries had agreed to promote agricultural trade.
The Chinese statement also made no mention of rare earths, while the US said China would address shortages of rare earths – particularly yttrium, scandium, neodymium and indium. Beijing controls the supply chain for many unknown minerals that are key components of smartphones, cars and weapons.
The summit itself was “disappointing,” but U.S.-China relations are likely to improve “incrementally” as long as Trump is president, Jacob Shapiro, strategic partner and geopolitical adviser at The Bespoke Group, said Monday on CNBC’s “Squawk Box Asia.”
“Once you get past Trump, I don’t see Trump passing the baton to anyone in the United States who is.” [interested in] “We will significantly improve relations with China,” he said. Shapiro said that means Beijing will “say what it has to say to make things nice over the next few years” while also preparing for the next U.S. president, who is likely to take a tougher stance on China.
Both the US and China have noted agreements to establish trade and investment bodies to facilitate bilateral discussions in these areas.
China indicated that cutting tariffs was part of its plans, but the US did not mention the tariffs.
The US clarified Chinese plans to buy 200 Boeing planes, while Beijing largely acknowledged the plane purchase agreement and said the US would ensure the supply of engines and other parts. China has developed its own passenger plane, which still relies on foreign-made parts.
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