U.S. Expects China Agriculture Purchases Worth Tens of Billions After Trump-Xi Summit

The United States expects China to commit to buying “double-digit billions” of dollars in U.S. agricultural products annually over the next three years following a May 15, 2026, summit between Presidents Donald Trump and Xi Jinping in Beijing, U.S. Trade Representative Jamieson Greer said. Greer told Bloomberg Television the expected agreement would go beyond soybeans and cover broader agricultural purchases. He cited an October 2025 deal for China to buy 25 million metric tons of U.S. soybeans annually. Soybeans are the largest U.S. export to China, the world’s top buyer, and have remained a central issue in trade negotiations under both Trump administrations. Before the summit, markets had not expected Beijing to raise the soybean target above 25 million tons, a view reinforced by Treasury Secretary Scott Bessent’s May 14, 2026, comments suggesting the existing deal addressed the issue.