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US-China relations: White House cites new trade boards and talks on rare earths and Iran
A White House fact sheet on President Donald Trump’s Beijing visit says the US and China will create boards on trade and investment and address rare earth supply chains. It also reports agreement that Iran must not have a nuclear weapon, support to reopen the Strait of Hormuz without tolls, and a shared goal to denuclearise North Korea.
The United States and China agreed to create two joint boards on trade and investment. The White House said the move aimed to support "strategic stability\" based on fairness and reciprocity. Details appeared in a fact sheet on President Donald Trump’s visit to Beijing. The document also listed commitments on minerals, regional security, and future leader visits.
The fact sheet said the new bodies were the US-China Board of Trade and the US-China Board of Investment. The Board of Trade was set to manage bilateral trade in non-sensitive goods. The Board of Investment was to act as a government forum on investment issues. The White House described these as key parts of the economic framework.
US-China Board of Trade and US-China Board of Investment details
The White House said President Trump negotiated commitments meant to create high-paying American jobs. It said the package also aimed to open new markets for US goods. China approved an initial purchase of 200 American-made Boeing aircraft for Chinese airlines. The fact sheet said this would support high-skilled US manufacturing work.
China also committed to buy at least USD 17 billion per year of US farm products. The document said the target applied in 2026 prorated, 2027, and 2028. It added that this came on top of soybean purchase commitments from October 2025. The fact sheet also addressed supply chain concerns around critical minerals.
US-China rare earths and critical minerals supply chain steps
The fact sheet said China would address US concerns about rare earth shortages. It listed yttrium, scandium, neodymium, and indium among the minerals involved. It also said China would address restrictions on selling rare earth production equipment. The document added that processing technologies were also part of US concerns.
On food trade, the document said China restored market access for US beef. It said China renewed and expanded listings for more than 400 US beef facilities. China was expected to work with US regulators on lifting all suspensions. The fact sheet also said China resumed poultry imports from US states cleared by the USDA.
US-China talks on Iran, Strait of Hormuz, and North Korea
The White House said President Trump and President Xi Jinping agreed Iran cannot have a nuclear weapon. The fact sheet said both leaders called for reopening the Strait of Hormuz. It also said they agreed no country or organisation can charge tolls there. The document also said both leaders shared a goal to denuclearise North Korea.
The fact sheet said President Trump would welcome Xi for a Washington visit this fall. It also said both countries would support each other as hosts of the G20 and APEC summits later in 2025. The document made no mention of Taiwan. In later media interviews, Trump called a possible Taiwan arms sale a negotiating tool.
With inputs from PTI
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