Following the Trump-Xi summit, China has agreed to a significant coal purchase from the United States, committing to import at least 10 million metric tons in 2027 and another 10 million metric tons in 2028. This agreement is part of a broader expansion of trade cooperation between Washington and Beijing, as reported by Bloomberg.
This coal commitment falls under agreements established by the newly operational U.S.-China Board of Trade. The two nations also plan to implement preferential tariffs on $30 billion worth of non-sensitive goods from both sides, aiming to reduce trade barriers across various consumer and industrial products. US eligible goods include agricultural products, seafood, timber, cosmetics, and medical devices, while Chinese products cover small appliances, toys, holiday decorations, and children's car seats.
Beyond coal and tariffs, a new working group will address market access barriers in the agricultural sector, a recurring topic in trade talks. A Board of Investment has also been established to explore investment opportunities and resolve obstacles for companies investing in both markets. Discussions on critical minerals, such as rare earths, will continue, focusing on US concerns about supply-chain shortages.
President Trump also urged Chinese President Xi Jinping to increase the production of refined petroleum products to help stabilize global supplies amidst Middle East disruptions. Furthermore, technology, particularly artificial intelligence, remains a key area for bilateral discussions, with the next exchange on emerging technologies scheduled for November.
