USSEC (United States Soybean Export Council) booth at the 8th China International Import Expo held in Shanghai on November 8, 2025.
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BEIJING – China has agreed to buy U.S. soybeans and address U.S. access to rare earths, the White House announced Sunday, touting some of the most tangible results so far from last week’s high-profile bilateral summit.
US President Donald Trump concluded two days of talks with Chinese President Xi Jinping in Beijing on Friday. The two leaders also agreed to meet in the United States in September.
The White House announced that China would purchase at least $17 billion of U.S. agricultural products annually through 2028, noting that it would be “in addition to the soybean purchase commitments made in October 2025.”
After Trump and Xi met in South Korea last fall, the United States announced that China had agreed to buy at least 25 million tons of U.S. soybeans each over the next three years.
But this weekend’s announcement said China would again allow the sale of U.S. beef and chicken, but did not specify the amount. China’s Ministry of Commerce did not reveal the quantity or name of the soybeans, but noted that the two countries had agreed to promote trade in agricultural products.
China’s statement also did not mention rare earths, but the US said China would address shortages of rare earths, particularly yttrium, scandium, neodymium and indium. The Chinese government controls the supply chain for many unknown minerals that are key components in smartphones, cars, and weapons.
Jacob Shapiro, a strategic partner and geopolitical advisor at Bespoke Group, told CNBC’s “Squawk Box Asia” on Monday that while the summit itself was “disappointing,” U.S.-China relations are likely to improve “gradually” as long as Trump is in office.
“Once he overtakes Trump, I don’t think he will pass the baton to anyone in the United States (interested in) meaningfully improving relations with China,” he said. Shapiro said this means Beijing will “say what needs to be said to turn things around over the next few years” while preparing for the next U.S. president, who is likely to take a tougher stance on China.
Both the US and Chinese reports referred to an agreement to establish a trade and investment committee to facilitate bilateral consultations in these areas.
China has indicated that tariff cuts will be part of the plan, but the United States did not mention tariffs.
The United States has made clear plans for China to buy 200 Boeing aircraft, but Beijing has broadly pointed to the aircraft purchase agreement and said the United States would secure supplies of engines and other parts. Although China has developed its own airliner, it still relies on foreign-made parts.
