Washington, Oct 24 (NationPress) President Donald Trump is preparing for a significant journey to Asia this week, which includes a crucial meeting with Chinese Premier Xi Jinping scheduled in South Korea.

The focal point of this trip will be the discussions with Xi in South Korea, as confirmed by White House Press Secretary Karoline Leavitt, taking place on October 30 during the Asia-Pacific Economic Cooperation (APEC) summit.

Leavitt provided insights into Trump's Asia itinerary on Thursday, which spans Malaysia, Japan, and South Korea for both ASEAN and APEC summits, focusing on trade discussions, peace negotiations, and US-China tensions.

Despite earlier threats to cancel the meeting due to escalating trade disputes, Trump expressed optimism on Wednesday, stating he hopes for a "deal on everything".

Trump will depart Washington on Friday and arrive on Sunday in Malaysia for the ASEAN summit -- a meeting he missed several times during his first term.

He is expected to finalize a trade agreement with Malaysia, but more significantly, oversee the signing of a peace accord between Thailand and Cambodia, continuing his pursuit of a Nobel Peace Prize.

According to Malaysian Prime Minister Anwar Ibrahim, "President Trump is eager to witness the positive outcomes of the peace talks between Thailand and Cambodia".

Following this, Trump will head to Tokyo on Tuesday to meet with Sanae Takaichi, who was recently appointed as Japan's first female Prime Minister, on Wednesday.

Japan has largely evaded the worst impacts of the tariffs Trump imposed to rectify what he describes as unfair trade practices that have "ripped off the United States".

The apex of the APEC summit journey is anticipated to be South Korea, where Trump will arrive in the southern port city of Busan on Wednesday, as stated by Leavitt.

He will then engage with South Korean President Lee Jae Myung, participate in an APEC luncheon with business leaders, and dine with US tech executives, as per White House announcements during the APEC summit in Gyeongju.

On the following day, Trump will meet Xi for their first encounter since his return to office.

Global markets are closely monitoring to see if the two leaders can mitigate the trade conflict between the world's two largest economies, especially after a recent dispute regarding Beijing's rare earth restrictions.

Initially, Trump had threatened to cancel the meeting and imposed additional tariffs, but later decided to proceed.

On Wednesday, he expressed hope for a deal with Xi on "everything" and mentioned that he hopes the Chinese leader can influence Russia's Vladimir Putin to conclude the Ukraine conflict.

South Korea is reportedly considering the rare honor of granting Trump the Grand Order of Mugunghwa -- the nation’s highest award -- during his visit, as it seeks its own trade agreement.

Additionally, North Korea will be part of the discussions. The country launched multiple ballistic missiles on Wednesday, just days before Trump's arrival.

Officials reported that South Korea has suspended tours in certain areas of the Demilitarised Zone (DMZ) separating the two Koreas, intensifying speculation about a potential new meeting between Trump and North Korean leader Kim Jong Un.

Trump has indicated his desire to meet Kim again following several previous meetings during his first term; however, there has been no confirmation of reports suggesting the White House is exploring a new meeting this time.