Biden and Xi will meet Wednesday for talks on trade, Taiwan and managing fraught US-China relations

President Joe Biden and Chinese President Xi Jinping will meet Wednesday in California for talks on trade, Taiwan and managing fraught U.S.-Chinese relations in the first engagement between the leaders of the world’s two biggest economies in nearly a year.

The White House has said for weeks that it anticipated Biden and Xi would meet on the sidelines of the Asia-Pacific Economic Cooperation summit in San Francisco, but negotiations went down to the eve of the gathering, which kicks off Saturday.

White House press secretary Karine Jean-Pierre said in a statement the leaders would discuss the “continued importance...