China commits to purchasing at least $17 billion a year in farming products, but other agreements aren't as clear.

China's $17 million farming purchase commitment is 
good news for U.S. producers. (Adobe Stock photo)

In some good news for American farmers, following President Donald Trump's summit last week with Chinese leader Xi Jinping, a White House fact sheet confirmed that China agreed to purchase "at least $17 billion in U.S. agricultural products annually through 2028, in addition to soybean commitments already agreed to," reports Ari Hawkins of Politico. The announcement is among "the few concrete deliverables" from last week's summit.

Beyond its agriculture purchase commitment, the White House said Beijing has "renewed expired registrations for more than 400 U.S. beef facilities and added new listings," Hawkins writes. "A move aimed at widening market access for American farmers." Additionally, China will now accept U.S. poultry imports that the U.S. Department of Agriculture confirms are free of avian influenza.

The summit included agreement on several other issues, but the specific engagement between the two countries on topics such as Iran remained vague. For instance, "Both countries agreed Iran cannot get ahold of a nuclear weapon," Hawkins reports. They also agreed that the "Strait of Hormuz shipping corridor should reopen, and that no country or group should be allowed to charge tolls."

The White House fact sheet didn't include details on how, or even whether, the countries planned to work together to resolve issues with Iran's nuclear capability or its blockage of the Strait of Hormuz.

Although President Trump noted that tariffs were not discussed at the summit, that "appears to contradict a statement from China’s commerce ministry, which said the two sides had reached a preliminary agreement to reduce some tariffs and also confirmed agricultural and aircraft deals, though it did not provide specifics," Hawkins adds. "Trump and Xi are expected to meet as many as four times this year."