China Agrees to Buy $17 Billion in US Farm Products Annually Through 2028

The United States said China has agreed to buy at least $17 billion of American agricultural products each year through 2028, a pledge that would mark a significant boost for U.S. farmers if it is carried out as described. The announcement came after President Donald Trump and Chinese leader Xi Jinping held a major summit in Beijing last week, according to a Bloomberg report and a White House fact sheet cited by other outlets. The deal is said to cover farm goods broadly, not just soybeans, and comes alongside plans to create new bilateral trade and investment boards.

U.S. Trade Representative Jamieson Greer said the expected purchases amount to “double-digit billions” over the next three years, while stressing that the commitment is aggregate and not limited to one crop. That matters because China has long been the largest overseas market for many American farm products, especially soybeans, and U.S. growers have been looking for more certainty after years of trade tensions, shifting tariffs and uneven buying patterns. Reuters, as cited by several agricultural outlets, reported that Greer said the U.S. expects to see an agreement for substantial annual purchases as part of the Beijing talks.

The White House said the $17 billion figure does not include separate soybean purchase commitments China made in October 2025. That detail suggests the overall value of U.S. farm sales to China could be higher than the new annual floor being described publicly. The American Soybean Association noted that China previously committed to buy 25 million metric tons of soybeans per year through 2028, up from 12 million metric tons in the current marketing year, underscoring how central soybeans remain to the trade relationship.

In addition to the agricultural pledge, the two sides said they would establish a U.S.-China Board of Trade and a U.S.-China Board of Investment. According to the White House and Chinese statements reported by Bloomberg and other outlets, those bodies are intended to help address market-access concerns and provide a more regular channel for commercial dialogue. James Zimmerman, chairman of AmCham China, said the summit brought more clarity and predictability for the business community and that the agreed “board of trade” could help institutionalize talks between the two countries.

The announcement comes as Washington continues to scrutinize Chinese trade practices more broadly. Greer said Trump would be presented with options if U.S. investigations determine that Chinese industrial overcapacity is contributing to excess exports, signaling that the farm purchase pledge does not resolve deeper disagreements between the world’s two largest economies. Still, for U.S. agricultural exporters, the agreement — if fully implemented — could offer a measure of stability in one of their most important foreign markets.