US President Donald Trump is in China to attend the most important summit with Chinese premier leader Xi Jinping and expressed that the two sides made “fantastic trade deals" following trade talks.

Trump said China has agreed to buy oil from the U.S. as the two nations push for tangible wins at the two-day summit.

Trump said that the Chinese president would like to see the Strait of Hormuz open and free of tolls.

U.S. crude oil exports to China plunged 95% from 2023 to 8.4 million barrels till 2025.

In an interview with Fox News, Trump said China has agreed to buy American oil 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 evening.

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.

“They have an insatiable appetite for energy, and we have unlimited energy,” Trump said, saying that the U.S. produces more oil & gas than Saudi Arabia and Russia combined: "We're doing twice as much oil and gas as they are.”

The U.S. produced 23.6 million barrels of oil and other liquid fuel per day in 2025, according to the U.S. Energy Information Administration, while Saudi Arabia produced 11.21 million bpd and Russia 10.53 million bpd.

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 bpd 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 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 bilateral relationships for the next three years and beyond.

While China's energy ministry and its foreign ministry did not immediately respond or comment on potential American oil purchases.