In a pre-recorded interview with Fox News that aired Thursday, U.S. President Donald Trump stated that China has agreed to purchase American oil. This announcement comes as the two nations are seeking tangible outcomes in trade and business during their ongoing bilateral summit.
Trump mentioned that China will buy oil from the United States and ship it to Texas, Louisiana, and Alaska. He also noted that China has agreed to assist in negotiations with Iran and refrain from supplying military equipment to Tehran. Additionally, Trump stated that the Chinese leader expressed a desire for the Strait of Hormuz to remain open and free of tolls.
The President emphasized that the U.S. has ample energy resources to meet China’s energy demands. He highlighted that the U.S. produces more oil and gas than Saudi Arabia and Russia combined, citing figures from the U.S. Energy Information Administration.
Notably, China is a significant buyer of Iranian oil, while U.S. exports to China saw a decline in recent years. The U.S. crude and petroleum exports to China dropped by 25% year on year, with a notable decrease in crude oil exports.
The Chinese energy and foreign ministries did not provide immediate comments on potential American oil purchases. Meanwhile, China announced that the two leaders reached new agreements to enhance bilateral relations and called for stability in the Middle East and Gulf region.
Rush Doshi, a senior fellow at the Council on Foreign Relations, pointed out that the U.S. may be positioning itself as a commodity supplier to China, which could have long-term implications. Despite efforts to manage future relationships, the rivalry between the two countries impacts the extent of their cooperation.
Trump and Chinese President Xi Jinping concluded their summit with tea and a working lunch on Friday, focusing on business deals. Beijing emphasized that the Taiwan issue could significantly influence bilateral ties. Although the meetings went smoothly, actual deliverables were not immediately seen, with continued discussions expected on the second day.
As both sides prioritize stability, the ongoing dialogue aims to address critical areas like rare earths and advanced technology. Trump highlighted the success of the trade deals reached during the summit.
