US-China talks see progress on imports; tariff cuts on hold

研报英文原文证据摘录

US-China talks see progress on imports; tariff cuts on hold

19 May 2026

Figure 1. Agreements at the US-China summit as announced by the US

US claims successful

- Presidents Donald Trump and Xi Jinping agreed that the US and China should build a constructive

agreements for export growth relationship for strategic stability based on the principles of fairness and mutual benefit

- Both leaders agreed that Iran must not obtain a nuclear weapon, that the Strait of Hormuz must

reopen, and that Iran must not impose tolls in exchange for passage on any country or organization

- The two parties will establish a US-China trade commission and US-China investment commission as

new organizations to optimize bilateral economic relations

- China will address US concerns regarding supply chain shortages related to critical minerals and

bans/restrictions on the sale of rare earth element production and processing equipment and

technology

- China will resume purchases of US-made Boeing aircraft, and has placed an initial order for 200

aircraft

- In addition to the soybean purchase agreement it pledged in October 2025, China will buy at least

$17b worth of US agricultural products annually in 2026–2028

- China will cooperate with US regulators to lift its ban on trade with US beef processing facilities

- China will resume poultry imports from US states deemed free of highly pathogenic avian influenza

outbreaks

Source: Mizuho Securities Equity Research, based on data from the US government

China’s ambiguous statement Figure 2. Agreements at the US-China summit as announced by the China

on US-China agreements - Both leaders agreed that Iran must not obtain a nuclear weapon, that the Strait of Hormuz must

- Both parties agreed to establish a US-China trade commission and US-China investment