President Trump said Friday that American farmers will be “very happy” following a meeting with Chinese President Xi Jinping, after the two leaders appeared to reach a tentative trade arrangement touching on agricultural exports.
Speaking from the Oval Office during what was described as a farewell tea with Xi, Trump said: “I think our farmers are going to be very happy — a lot of very positive things happened… Great things for both countries. It’s just been very, very productive.”
He added: “And, we’ll be speaking a lot. I think our farmers are going to be very happy. A lot of very positive things happened. But, America’s very happy about this visit, and I’m sure China’s very happy also. Great things for both countries. And, it’s been just very, very productive. And thank you very much.”
Trump also thanked those present for what he called a “tremendous visit,” saying: “Well, thank you very much, everybody, we’ve had a tremendous visit, from two spectacular people, and, we really enjoyed it. I think we’ve made tremendous strides. We’ve made great strides, very positive for both countries. Thank you very much, and we appreciate the fair coverage. It’s been very fair. We appreciate it.”
According to China’s state-run Xinhua news agency, Xi said the latest round of economic and trade consultations had produced a “new joint arrangement,” calling it good news for businesses and people in both countries as well as the global economy. Specific details of the arrangement have not been disclosed.
The announcement followed comments from U.S. Treasury Secretary Scott Bessent, who said Washington and Beijing had agreed to extend their existing trade truce until January 10, 2027, giving negotiators more time to resolve outstanding economic issues.
What’s at stake for agriculture
Agricultural trade between the two countries remains substantial. Even amid recent tensions, U.S. agricultural exports to China totaled $27 billion, roughly 15 percent of all American agricultural exports. Soybeans account for nearly half of that total, with beef, cotton and corn making up much of the rest.
China has other suppliers it could turn to for soybeans, including Vietnam, Indonesia and India, but the United States remains one of its primary sources. Still, U.S. agricultural exports to China have fallen from a high of $40 billion as recently as 2022, a decline any new deal could potentially reverse.
The trade relationship is not one-sided. The U.S. imports as much as $327 billion in foodstuffs from China, including fruits and vegetables, teas, spices and snack foods — a significant imbalance whose future is unclear pending further details of any agreement.
Relations between Washington and Beijing have remained tense in recent years, and it is not yet clear whether an agricultural trade arrangement will meaningfully change that dynamic. How long any deal will hold, particularly beyond January 2029, remains an open question.
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