China agrees to import 10 million tons of U.S. coal annually

China has agreed to import at least 10 million tons of American coal annually in 2027 and 2028, marking a significant step toward easing trade tensions between the two largest economies. This agreement follows recent discussions between President Donald Trump and President Xi Jinping.

Under the framework of the newly activated U.S.-China Trade Board, both nations are working toward applying preferential tariffs to $30 billion worth of non-sensitive goods. U.S. products benefiting from these tariffs include agricultural goods, seafood, timber, cosmetics, and medical equipment. Conversely, Chinese consumer goods such as small appliances, toys, seasonal decorations, and child car seats are included in the deal.

The coal agreement aims to revitalize the U.S. coal industry, which saw a 92 percent drop in exports to China last year due to economic tensions and tariff wars. To further stabilize trade, the two countries have established an ‘Investment Board’ to explore opportunities and remove barriers, as well as a working group to address market access issues in the agricultural sector. Both sides also committed to continuing efforts regarding U.S. concerns over supply chain shortages related to rare earth elements and other critical minerals.