US President Donald Trump (R) shakes hands with China’s President Xi Jinping at the Great Hall of the People in Beijing on May 14, 2026.
Kenny Holston | Afp | Getty Images
U.S. President Donald Trump said China has agreed to buy American oil, in a pre-recorded interview with Fox News that aired Thursday evening stateside, as the two nations push for concrete trade and business wins at their ongoing bilateral summit.
“They’ve agreed they want to buy oil from the United States, they’re going to go to Texas, we’re going to start sending Chinese ships to Texas and to Louisiana and to Alaska,” Trump said in the interview that was conducted after his meeting with Chinese President Xi Jinping in Beijing on Thursday.
China also agreed to help with Iran negotiations and not to supply military equipment to Tehran, Trump said, adding that the Chinese leader would like to see the Strait of Hormuz open and free of tolls.
China is by far the largest buyer of Iranian oil, purchasing around 90% of Iran’s crude exports. The country imported around 1.4 million barrels per day of Iranian oil in 2025, according to data published by the U.S. government.
Meanwhile, the U.S. crude and petroleum exports to China plunged for a second consecutive year, falling 25% year on year to 237.8 million barrels last year. Crude oil exports, in particular, plummeted 95% from 2023 to about 8.4 million barrels in 2025.
China’s foreign ministry said Friday that the two leaders had reached “a series of new consensus” during the Thursday meeting, including an agreement to build “constructive, strategic stability” in the bilateral relationship for the next three years and beyond.
On the Iran war, Beijing called for a reopening of the shipping lanes as soon as possible, urging warring powers to work towards a “comprehensive and lasting ceasefire” and bring stability to the Middle East and Gulf region, according to the statement.
Trump and Xi are scheduled to meet Friday to close out a two-day summit that has featured pageantry as well as dealmaking including market access for U.S. businesses and purchases of American goods. Beijing also made a pointed warning that mishandling the Taiwan issue could push bilateral ties into a tailspin.
Trump’s visit marks the first time a sitting U.S. president has traveled to China in nearly nine years. The two leaders are expected to share tea and a working lunch before the U.S. officials depart for Washington.
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