Washington, May 18 (PTI) The US and China have agreed to set up boards on trade and investment and build a constructive relationship of strategic stability based on fairness and reciprocity, according to a fact sheet by the White House on President Donald Trump’s visit to Beijing.
The fact sheet, issued on Sunday, said China will address the United States’ concerns regarding supply chain shortages related to rare earths and other critical minerals, including yttrium, scandium, neodymium, and indium.
It also said that Trump and Chinese President Xi Jinping agreed that Iran cannot possess a nuclear weapon, called to reopen the Strait of Hormuz, and agreed that no country or organisation can be allowed to charge tolls.
The fact sheet also mentioned that Trump will welcome Xi for a visit to Washington this fall, and both countries will support each other as hosts of the G20 and APEC summits later this year.
“President Trump and President Xi confirmed their shared goal to denuclearise North Korea,” the fact sheet said, without making any mention of Taiwan.
In media interviews after talks with Xi, Trump described a potential multibillion-dollar weapons sale to Taiwan as a “negotiating chip” with China, raising concerns in Taiwan.
As the cornerstone of this historic agreement, Trump and Xi chartered two new institutions to optimise 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 fact sheet said.
It further stated that President Trump negotiated a broad package of commitments aimed at creating high-paying American jobs and opening new markets for US goods.
The fact sheet also noted that China will address US concerns regarding prohibitions or restrictions on the sale of rare earth production and processing equipment and technologies.
“China approved an initial purchase of 200 American-made Boeing aircraft for Chinese airlines,” the fact sheet said, adding that China’s commitment will drive high-paying, high-skilled US manufacturing jobs.
It highlighted that 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.
The document also said that China restored market access for US beef by renewing and expanding the listings of more than 400 US beef facilities, and will work with US regulators to lift all suspensions on these facilities.
China also resumed imports of poultry from US states determined by the USDA as free of highly pathogenic avian influenza.
(This report has been published as part of the auto-generated syndicate wire feed. Apart from the headline, no editing has been done in the copy by ABP Live.)
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