US President Donald Trump will meet President Xi Jinping next week as part of a trip to Asia, the White House said on Thursday, confirming the meeting which had been called into question following an escalation in trade tensions.

White House press secretary Karoline Leavitt told reporters that Trump departs for Malaysia late on Friday night and will also visit Japan and South Korea, where he will meet Xi next Thursday after addressing the Asia-Pacific Economic Cooperation (Apec) CEO Summit.

"On Thursday morning local time, President Trump will participate in a bilateral meeting with President Xi of the People's Republic of China, before departing to return home," Leavitt said.

Tensions between the two sides escalated in early October when Beijing expanded curbs on exports of rare-earth minerals.

Trump had quickly threatened to retaliate with tariffs and other measures, but has in recent days expressed optimism about reaching a trade deal with China.

"I think we're going to come out very well, and everyone's going to be very happy," Trump said of the meeting later on Thursday. (Reuters)