Trump heads to Asia and high-stakes meeting with Xi

US PRESIDENT Donald Trump embarks on a major trip to Asia this week with all eyes on a meeting with Chinese leader Xi Jinping that has huge implications for the global economy.

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Trump said on Wednesday he was making a “big trip” to Malaysia, Japan and South Korea, his first visit to the region since he returned to the White House in a blaze of tariffs and geopolitical brinkmanship.

The highlight will be his talks with Xi in South Korea, which Trump's spokesperson confirmed would take place on October 30 on the sidelines of an Asia-Pacific Economic Cooperation (APEC) summit.

Trump had previously threatened to scrap the meeting amid a flareup in the trade war between Washington and Beijing, but he said he now hoped for a “deal on everything”.

There was also a “considerable” chance that Trump will meet North Korean leader Kim Jong Un during his visit, said South Korea’s unification minister, Chung Dong-young.

The host nations are meanwhile set to roll out the red carpet to ensure they stay on the right side of the unpredictable 79-year-old, and win the best deals they can on tariffs and security assistance.