US President Donald Trump said on Monday he expects to reach a fair trade deal with President Xi Jinping and downplayed risks of a clash between the superpowers over the issue of Taiwan.

"I think we're going to get along very well as it pertains to Taiwan and others," he told reporters as he met Australian Prime Minister Anthony Albanese.

Trump will hold his first meeting with Xi of his second term when the leaders of the world's two largest economies visit South Korea later this month for an Asia-Pacific summit.

Trump said he expected the Taiwan issue to be on the agenda at the meeting, but that his priority was reaching a "fair" trade deal.

"I want to be good to China. I love my relationship with President Xi. We have a great relationship," Trump said.

He also said he would travel to China early next year.

"I've been invited to go to China, and I'll be doing that sometime fairly early next year. We have it sort of set," Trump said. (Agencies)