Chinese President Xi Jinping and US President Donald Trump have “long-standing exchanges and respect each other”, Wang said, calling Xi and Trump’s relationship “the most valuable strategic asset in China-US relations”.

The call came ahead of an expected meeting between Xi and Trump in South Korea later this week on the sidelines of the Asia-Pacific Economic Cooperation (Apec) CEO Summit.

The Chinese readout of today’s call stopped short of directly confirming the two would meet, but the White House has previously said they will on Thursday.

There has been a new flare-up of trade friction between the world’s two largest economies in recent weeks after a period of relative calm, with Beijing expanding its rare earths control and Washington pressing through with additional port fees on Chinese ships, sparking a wave of mutual countermeasures.

Trade negotiators from the two countries met in Malaysia at the weekend to hash out a framework trade deal for the presidents to consider, on issues including soybeans and TikTok.

“China-US trade and economic relations (have) experienced some twists and turns,” Wang said, according to the readout released by his ministry.

“The two sides clarified their positions and enhanced understanding” during the trade talks in Kuala Lumpur, he said.

Bilateral relations can move forward as long as both sides are “committed to resolving conflicts through dialogue and abandon the practice of exerting pressure at will,” Wang added.

Trump, en route to Japan today, said the US and China are set to “come away with” a trade deal.