Global markets are watching closely to see if Thursday's planned meeting between the two presidents can halt a trade war sparked by the sweeping tariffs Trump announced after returning to office this year.
Speaking at a forum in Beijing on Monday, Wang Yi urged "an end to politicising economic and trade issues, artificially fragmenting global markets, and resorting to trade wars and tariff battles".
"Frequently withdrawing from agreements and reneging on commitments, while enthusiastically forming blocs and cliques, has subjected multilateralism to unprecedented challenges," Wang said, without naming specific countries.
"The tide of history cannot be reversed and a multipolar world is coming," Wang said.
Trump began a tour of Asia on Sunday, which is set to culminate in a meeting with Xi in South Korea -- the first face-to-face talks between the two leaders since the US president began his second term in January.
US Treasury Secretary Scott Bessent and China's Vice Premier He Lifeng have already held two days of trade talks, seeking an agreement to avoid additional 100 percent tariffs due to come into effect on November 1.
China's vice commerce minister, Li Chenggang, said a "preliminary consensus" had been reached.
Bessent told ABC that the extra tariffs had effectively been averted, and signalled a deal on rare earths and American soybean exports had been reached.
Aside from trade, Trump and Xi could touch on the issue of Taiwan, the self-ruled island that China claims as part of its territory.
Under longstanding policy, the United States recognises only Beijing but provides weapons for Taiwan's self-defence.
US Secretary of State Marco Rubio said last week that "no one is contemplating" abandoning Taiwan as part of a trade deal with China.
Chinese state broadcaster CCTV published a report early Monday morning saying Beijing's military had "recently" sent H-6K bombers to conduct "simulated confrontation training in the sea and airspace surrounding Taiwan".
Taiwan's Ministry of National Defense (MND) dismissed the report as "clearly a propaganda operation aimed at intimidation".
Daily data published on social media by the MND showed no substantial spike in air incursions by Beijing in recent days.
Trump in Japan as hopes grow for China trade deal
Tokyo (AFP) Oct 27, 2025 -
Donald Trump arrived in Japan on Monday, on the next leg of an Asia tour that could see the US president and China's Xi Jinping end their bruising trade war.
Speaking on Air Force One, Trump said he was hopeful of a deal when he sees Xi on Thursday, while also indicating he was willing to extend his trip in order to meet North Korean leader Kim Jong Un.
"I have a lot of respect for President Xi and we are going to I think... come away with a deal," Trump told reporters en route from Malaysia, where comments from US and Chinese negotiators raised hopes of an accord.
As dozens of people gathered at Haneda Airport to take photos, the presidential plane -- also bearing Secretary of State Marco Rubio and Treasury Secretary Scott Bessent -- touched down at sunset.
Sporting a golden tie, Trump then boarded a helicopter to take him into the bright lights of the Japanese metropolis in time for an evening audience with the emperor.
On Tuesday, Trump is expected to meet new Prime Minister Sanae Takaichi and make a speech on the USS George Washington aircraft carrier, docked at the US naval base Yokosuka.
"I hear phenomenal things. (Takaichi) was a great ally and friend of Shinzo Abe, who was my friend," Trump said, referring to the assassinated former premier.
"That really helps Japan and the United States, I think she's going to be great."
- Markets watching -
Trump's Asia trip, his first tour of the region since returning to office, kicked off in Malaysia on Sunday with a flurry of agreements.
That included rewarding neighbours Cambodia and Thailand with trade agreements after co-signing their ceasefire pact on the sidelines of the Association of Southeast Asian Nations (ASEAN) summit.
He also agreed a trade and minerals deal with Malaysia, and moved to mend fences with Brazilian President Luiz Inacio Lula da Silva.
But the greatest prize for Trump -- and for global markets -- remains a China deal.
Trump is due to meet Xi on Thursday in South Korea for their first face-to-face talks since the 79-year-old Republican's return to the White House.
Before Trump's arrival in Malaysia, Bessent and China's Vice Premier He Lifeng held two days of trade talks.
China's vice commerce minister, Li Chenggang, said a "preliminary consensus" had been reached.
Bessent said on Air Force One on Monday that they had agreed "a framework for President Trump (and) President Xi to decide".
"It's going to be great for China, great for us," Trump told reporters in Kuala Lumpur.
- Hot trucks -
On Friday, Takaichi announced in her first policy speech that Japan would be spending two percent of gross domestic product on defence this fiscal year.
But Washington, which has around 60,000 military personnel in Japan, wants Tokyo to spend even more, potentially matching the five percent of GDP pledged by NATO members in June.
Most Japanese imports into the United States are subject to tariffs of 15 percent, less painful than the 25 percent first threatened.
But Trump also wants Japan to import more American products, including rice, soybeans and cars, as well as "hot" Ford F-150 pickup trucks.
Questions also surround Japan's commitment to invest $550 billion in the United States, as specified in their July trade deal.
"What I expect is that, since he (Trump) is someone who acts decisively, things might move in a positive direction for Japan," said Tokyo resident Sayaka Kamimoto, 45.
- Kim meeting? -
Trump is due in the South Korean port city of Busan on Wednesday ahead of the Asia-Pacific Economic Cooperation (APEC) summit, and will meet President Lee Jae Myung.
Trump has also fuelled speculation that he could meet North Korea's Kim while on the Korean peninsula.
The two leaders last met in 2019 at the Demilitarised Zone (DMZ), the border area separating the two Koreas.
"I would love to meet with him if he'd like to meet. I got along great with Kim Jong Un. I liked him. He liked me," Trump said on Air Force One.
Asked if he would extend his trip to enable a meeting, he said: "Well, I hadn't thought of it, but I think the answer would be yeah, I would, I would do that, sure."
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