Trump Says China Will Buy U.S. Oil at Beijing Summit
CNBC reported Thursday that President Donald Trump disclosed China has agreed to purchase American oil. The announcement came via a pre-recorded Fox News interview conducted after Trump’s Thursday meeting with Chinese President Xi Jinping in Beijing.
Trump described Chinese ships traveling to Texas, Louisiana, and Alaska to collect oil. He framed China’s demand as an “insatiable appetite,” suggesting a meaningful near-term shift in bilateral energy flows.
An Energy Relationship That Had Nearly Collapsed
The backdrop makes the announcement striking. American crude oil exports to China fell 95% between 2023 and 2025, dropping to roughly 8.4 million barrels last year. Total U.S. crude and petroleum product exports to China also declined, falling 25% year-over-year to around 237.8 million barrels in 2025. A recommitment to American energy purchases would represent a significant reversal for both sides.
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Iran and the Strait of Hormuz Enter the Frame
Beyond oil purchases, Trump said China agreed to assist with ongoing Iran negotiations and pledged not to supply military hardware to Tehran. That commitment carries considerable weight. China currently absorbs roughly 90% of Iran’s crude exports, importing approximately 1.4 million barrels per day of Iranian oil last year alone.
Trump added that Xi expressed a desire to see the Strait of Hormuz remain open and toll-free. Beijing echoed that sentiment in a separate foreign ministry statement Friday, calling for a swift reopening of Gulf shipping lanes and urging all parties toward a lasting ceasefire in the region.
Summit Scope and Strategic Stakes
China’s foreign ministry confirmed the two leaders reached a broad series of new agreements Thursday. Those include a framework aimed at building what Beijing described as “constructive, strategic stability” in the relationship over the next three years and beyond. The summit also covered market access for American businesses and wider goods purchases.
Beijing did issue a sharp caution over Taiwan, warning that mishandling the issue could destabilize ties significantly. The visit itself is historically notable. Trump’s trip marks the first time a sitting American president has traveled to China in nearly nine years.
The two leaders are scheduled to meet again Friday for tea and a working lunch before the U.S. delegation departs for Washington. Final announcements from the summit are expected before the American side boards its flight home.
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