China agrees to buy 10 million tons of U.S. coal in 2027 and 2028

China has reached an agreement to import a minimum of 10 million metric tons of U.S. coal in both 2027 and 2028, according to Bloomberg. This commitment is part of expanded trade cooperation between the two nations, following recent high-level discussions between President Donald Trump and Chinese President Xi Jinping. The coal agreement is a result of the newly operational U.S.-China Board of Trade, which aims to reduce trade barriers and promote economic collaboration.

In addition to the coal purchase, the two countries plan to pursue preferential tariffs covering $30 billion worth of non-sensitive goods, including agricultural products, seafood, timber, cosmetics, and medical devices. China will also focus on addressing market-access barriers for U.S. agricultural exports through a newly established working group.

The agreement covers various sectors, including technology, where the U.S. and China agreed to continue discussions on emerging technologies, with a focus on artificial intelligence scheduled for a November meeting. The coal purchase commitment is a concrete outcome of the talks, with China expected to import at least 20 million metric tons of U.S. coal over the two-year period.

Critical minerals, supply-chain shortages, and investment opportunities are other areas of negotiation between the two markets.