Following the Trump-Xi summit, China has agreed to buy at least 10 million metric tons of U.S. coal in 2027 and another 10 million metric tons in 2028. This commitment is part of broader trade agreements reached under the newly established U.S.-China Board of Trade, according to a White House statement. This move comes as Washington and Beijing aim to expand trade cooperation.
In addition to the coal deal, the two nations will pursue preferential tariff treatment covering $30 billion worth of non-sensitive goods from both sides. This initiative is designed to lower trade barriers across various consumer and industrial products. U.S. goods eligible for these reduced tariffs include agricultural products, seafood, timber, cosmetics, and medical devices. Conversely, Chinese products such as small appliances, toys, holiday decorations, and children's car seats will also benefit from these tariff adjustments.
The summit also led to the creation of new working groups and boards. A working group focused on agriculture will address market-access barriers, a sector consistently central to trade negotiations. Furthermore, a Board of Investment was established to discuss investment opportunities and resolve obstacles for companies seeking to invest in either market. Discussions are ongoing regarding critical minerals, with the U.S. expressing concerns about supply-chain shortages of rare earths.
President Donald Trump also urged Chinese President Xi Jinping to increase China's production of refined petroleum products to help stabilize global supplies amidst disruptions from the Middle East conflict. Technology discussions will continue, with the next exchange, focusing on artificial intelligence, scheduled for November. These agreements emerged from the three-day Trump-Xi summit in Washington, where trade, technology, critical minerals, and other economic issues were key topics.
