The Monday speech comes less than 48 hours before the midterm elections in the U.S., which the world is watching for signs about whether the Trump administration can maintain its policy momentum. The Tuesday contests could also hold implications for Washington's foreign relations as trade tensions between the world's two largest economies have escalated.
Last week, major stock indexes rose amid renewed hope that Trump and Xi were moving closer to an agreement on trade. White House officials later pushed back on the idea of an imminent deal, however. The two leaders are set to meet later this month at the G-20 summit in Argentina.
In the meantime, China is promoting itself to the world as a major buyer of goods with the week-long China International Import Expo. More than 3,600 enterprises have signed up for the expo and 172 countries and regions will participate, according to the event's website.
Beijing has named 12 countries as "Guests of Honor” for the expo: Russia, Canada, the U.K., Germany, Mexico, Brazil, Egypt, Hungary, Indonesia, Pakistan, South Africa and Vietnam. Christine Lagarde, managing director of the International Monetary Fund, tweeted Sunday she is looking forward to participating in the expo in Shanghai.
However, many major Western nations are generally less enthusiastic. None appeared on a list of 18 heads of state who are set to attend the expo at Xi's invitation, according to China's Ministry of Foreign Affairs. While the expo said 180 U.S. firms have signed up, the Trump administration is reportedly not sending senior government officials.
—Reuters and CNBC's Huileng Tan contributed to this report.