Trump-Xi farm trade deals and rare earth pact

May 18, 2026 at 05:09 UTC

3 min read

Port containers loaded with farm goods symbolizing trade deals and rare earth supply cooperation

Key Points

China pledges $17 billion a year in U.S. farm imports from 2026 to 2028
Post-summit deals restore U.S. beef access and resume some poultry trade
U.S. soybean exports to China are on track to meet commitments
Rare earth supplies feature alongside agriculture in new agreements

Trump-Xi summit delivers new U.S.-China trade commitments

Following a summit between U.S. President Donald Trump and Chinese President Xi Jinping, the two countries announced a set of trade agreements focused on U.S. agriculture and critical minerals. The package is aimed at expanding Chinese purchases of U.S. farm goods and addressing shortages of specific rare earth elements important to industry.

The agreements come after several years of trade tensions that sharply reduced China’s imports of U.S. agricultural products. Officials on both sides presented the new commitments as a step toward rebuilding a key segment of bilateral trade.

China’s pledge on U.S. agricultural purchases

China has agreed to buy U.S. agricultural products, including beef and poultry, at an annualized rate of $17 billion for 2026, 2027 and 2028. This multi‑year commitment is designed to provide more predictable demand for U.S. exporters while supporting China’s food supply needs.

A central piece of the deal is restoring market access for U.S. beef, which had faced restrictions during the trade dispute. The agreement also provides for the resumption of poultry imports from U.S. states that are officially recognized as free of bird flu, reopening a major outlet for U.S. producers.

China’s overall imports of U.S. agricultural goods previously peaked at $38 billion in 2022, before dropping to $8 billion in 2025 amid the trade war. The new $17 billion annualized target for selected products highlights the scale of the planned rebound, even though it does not cover all farm categories.

Soybean exports track toward existing commitments

Soybeans (S1) remain a key component of U.S. agricultural trade with China. As of May 7, 2026, the United States had exported 10.9 million metric tons of soybeans (S1) to China. That shipping pace is described as being on track to fulfill earlier commitments by the end of the marketing year on August 31, 2026.

The progress on soybeans (S1) runs alongside the new beef and poultry measures, signaling a broader effort to stabilize and expand agricultural flows after the recent downturn in trade value.

Rare earth elements included in the summit package

Beyond agriculture, the Trump-Xi summit agreements also address concerns about access to certain rare earth minerals. China has committed to address shortages of specific elements, including yttrium, scandium, neodymium and indium.

These materials are used across a range of industrial applications, and their inclusion in the summit package places strategic raw materials alongside food trade in the latest round of U.S.-China economic engagement.

Implications for U.S.-China trade relations

The combination of long‑dated agricultural purchase commitments, restored market access for beef and poultry, and cooperation on rare earth supplies indicates a renewed focus on targeted areas of economic interdependence. The measures seek to reverse part of the earlier decline in farm trade while adding a new dimension around critical minerals.

While the agreements do not cover all aspects of the broader trade relationship, they mark a notable shift in two sectors that were heavily affected by the trade war: U.S. agriculture and supply chains reliant on rare earth elements.

Key Takeaways

Multi‑year purchase targets give U.S. producers more visibility on Chinese demand, particularly for beef, poultry and soybeans.
The rebound from the 2025 trough in agricultural imports underscores how politically negotiated deals can rapidly reshape trade flows.
Restored market access tied to animal health status highlights the role of sanitary rules in enabling or restricting cross‑border food trade.
Incorporating rare earths into the same framework as farm goods shows that U.S.-China talks are linking strategic commodities with agricultural issues.