President Trump, facing a re-election battle with the US dealing with the world's highest number of deaths and infections from coronavirus, focused his speech on attacking China.
Recent tensions have resulted in the expulsion of Western journalists from China and the cancellation of student visas for Chinese students studying in the US.
Agricultural purchases and the dollar-yuan exchange rate will also be among the topics to be discussed in the virtual meeting that may take place as early as this week, though a date has not been finalised.
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The tit for tat move comes after United States ordered closure of China's consulate in the Texas city of Houston on Wednesday amid a mounting array of conflicts including trade, the handling of the virus pandemic, technology and spying accusations.
Leader Carrie Lam says a third of all infections since the outbreak started have been recorded in the last fortnight. HSBC, Standard Chartered and other banks are racing to close branches or curtail working hours after the spike in cases.
Asian stocks tracked another overnight plunge in Wall Street's benchmarks with the markets in China, Japan and South Korea all posting heavy losses.
The world’s second-largest economy grew by 6.1 percent, down from 2018’s 6.6 percent, already the lowest since 1990, government data showed Friday.
US President Donald Trump last month threatened to punish Paris for a new tax on tech giants like Netflix and Amazon.
US President Donald Trump wrote in a tweet that he would sign the deal with "high-level representatives of China" and that he would later travel to Beijing to begin talks on the next phase.
The United States has threatened to impose tariffs on French goods in response to a law passed in the French parliament taxing American digital giants.
Chinese State Councillor Wang Yi said the US has, for political purposes, used the machine of state to suppress legitimate Chinese businesses and has groundlessly laid charges against them, which is an act of bullying.
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