According to the latest report from The New York Times, the White House said on Sunday, May 17, local time, that China has agreed to purchase at least USD 17 billion worth of U.S. agricultural products each year in 2026, 2027, and 2028. The purchase amount for this year will be calculated on a proportional basis.
The White House stated that these purchases would be in addition to China’s previous commitment to buy U.S. soybeans. The U.S. government also said that China had “approved initial purchases” of 200 Boeing aircraft and had taken steps to open market access for U.S. beef, chicken, and duck products.
However, many details of the U.S.-China trade negotiations remain unclear, including whether the United States has offered China any concessions in return.
On May 17, U.S. Trade Representative Greer said in an interview with CBS that the U.S. government had “finalized” an agreement with China under which China would purchase 200 aircraft from Boeing.
Greer said that the expected new purchase agreement would bring China’s total agricultural purchases to “double-digit billions” of U.S. dollars. He explained that the total amount would include soybeans, beef, grains, dairy products, and other agricultural goods.
At the time of Greer’s interview, neither China nor the United States had released the full details of the trade agreement reached in Beijing between U.S. President Donald Trump and Chinese President Xi Jinping.
Greer added that more information regarding some of China’s purchases, including aircraft engines and agricultural products, would be announced in the coming days.
