BEIJING — A Trump-Xi summit took place in Beijing in 2026, resulting in a series of agreements covering agricultural trade, energy purchases, and critical mineral supply chains. According to White House statements, China agreed to purchase at least US$17 billion annually in U.S. agricultural products through 2028.

Beijing also reportedly committed to restoring market access for American beef and poultry. Earlier soybean agreements between the U.S. and China had been concluded in 2025, laying groundwork for the broader agricultural commitments reached during the summit.

Energy deals formed another key pillar of the discussions. According to U.S. officials, Chinese leader Xi expressed interest in increasing purchases of American oil, partly to reduce China’s exposure to instability around the Strait of Hormuz. U.S. officials earlier claimed that Beijing had agreed to boost U.S. oil imports in response to ongoing risks in the region. Much of China’s energy supply passes through the Strait, and a 2026 crisis there reinforced the fragility of Asian energy security. The Trump administration views American naval dominance and energy export capacity as interconnected strategic tools that can constrain Chinese freedom of action and treats oil and natural gas dominance as enduring strategic advantages.

Critical minerals emerged as a central focus of the summit during an intensifying U.S.-China contest for access to these resources. China controls large shares of global refining and processing for rare earths, graphite, cobalt, and battery materials—components essential for semiconductors, electric vehicles, advanced weapons systems, renewable infrastructure, and artificial intelligence hardware. Rare earths mined outside China are often still refined inside China before entering global manufacturing chains. The Trump administration has moved toward a policy of critical mineral securitization, aiming to reconstruct entire domestic supply ecosystems from mine to magnet to military application.

Recent executive actions invoke emergency powers to accelerate domestic mining, expand refining capacity, support deep-sea extraction projects, and create strategic stockpiles. The administration embraces deep-sea mining as part of its strategy to reduce dependence on Chinese-controlled supply chains, citing offshore polymetallic nodules rich in nickel, cobalt, manganese, and rare earth elements. Its broader approach favors tariffs, industrial subsidies, domestic extraction mandates, friend-shoring, and strategic decoupling in sectors tied to national security.