Washington DC [US], May 18 (ANI): Following US President Donald Trump's visit to China, the White House has announced that China has agreed to buy atleast USD 17 billion worth of agricultural products annually across three years, as US President Donald Trump and Chinese President Xi Jinping reached a consensus on several major issues, aimed at strengthening global stability as well as expanding trade and investment cooperation between the two countries.'China will purchase at least USD 17 billion per year of US agricultural products in 2026 (prorated), 2027, and 2028, in addition to the soybean purchase commitments that it made in October 2025. China restored market access for US beef by renewing expired listings of more than 400 US beef facilities and adding new listings. China will work with US regulators to lift all suspensions of US beef facilities. China resumed imports of poultry from US states determined by the USDA to be free of highly pathogenic avian influenza,' the White House said.

Both leaders agreed that the United States and China should build a 'constructive relationship of strategic stability' based on fairness and reciprocity, the White House said. The release also stated that President Trump will host President Xi in Washington later this year, while both countries will support each other as hosts of the G20 and APEC summits scheduled later in 2026.

'This week, during the first visit of a US President to the People's Republic of China since 2017, President Donald J. Trump reached consensus with President Xi Jinping on several issues that will enhance stability and confidence for businesses and consumers around the world. President Trump and President Xi agreed that the United States and China should build a constructive relationship of strategic stability on the basis of fairness and reciprocity. President Trump will welcome President Xi for a visit to Washington this fall. The two countries will support each other as the respective hosts of the G20 and APEC Summits later this year,' the official release from the White House said.

The White House further said that both leaders agreed that Iran should not possess nuclear weapons and called for the reopening of the Strait of Hormuz, while asserting that no country or organisation should be allowed to impose tolls in the region. Trump and Xi also reaffirmed their shared commitment to the denuclearisation of North Korea.

'Both leaders agreed Iran cannot have a nuclear weapon, called to reopen the Strait of Hormuz, and agreed that no country or organisation can be allowed to charge tolls. President Trump and President Xi confirmed their shared goal to denuclearise North Korea,' the release added.

The release added that the two leaders also agreed to establish two new institutions to strengthen bilateral economic engagement -- the US-China Board of Trade and the US-China Board of Investment.

According to the release, the Board of Trade will allow both governments to manage bilateral trade involving non-sensitive goods, while the Board of Investment will provide a government-to-government platform for discussions related to investment issues.

'As the cornerstone of this historic agreement, President Trump and President Xi chartered two new institutions to optimize the bilateral economic relationship: the US-China Board of Trade and the US-China Board of Investment. The Board of Trade will allow the United States Government and the Government of China to manage bilateral trade across non-sensitive goods. The Board of Investment will provide a government-to-government forum for discussing investment-related issues,' the press release said.

The White House also said that President Trump secured a broad package of commitments intended to support American jobs, industries and exports. China, according to the release, agreed to address US concerns regarding supply chain shortages linked to rare earths and critical minerals, including yttrium, scandium, neodymium and indium. China will also address restrictions related to the sale of rare earth production and processing equipment and technologies.

'President Trump negotiated a sweeping package of commitments that will drive high-paying American jobs and open new markets for US goods. China will address US concerns regarding supply chain shortages related to rare earths and other critical minerals, including yttrium, scandium, neodymium, and indium. China will also address US concerns regarding prohibitions or restrictions on the sale of rare earth production and processing equipment and technologies,' said the press release.

The release further stated that China approved an initial purchase of 200 American-made Boeing aircraft for Chinese airlines, marking China's first such commitment to purchase Boeing planes since 2017.

The release said, 'China approved an initial purchase of 200 American-made Boeing aircraft for Chinese airlines. This tranche of aircraft - China's first commitment to purchase American-made Boeing aircraft since 2017 - will drive high-paying, high-skilled US manufacturing jobs and enable the Chinese people to fly on American-made planes for decades to come.' (ANI)