The prime minister and US President Donald Trump will visit the new billion-dollar paper mill built by Australia's richest man, Anthony Pratt, in Ohio on Sunday.

The White House says the Wapakoneta factory tour will underscore the strong trade and investment relationship the US and Australia have.

Investment between the two nations is worth $1.2 trillion a year.

Ahead of the factory visit, the leaders will dine together at the White House on Friday, with Mr Morrison only the second world leader Mr Trump has offered a full state dinner since he took office in January 2017.

The formal reception is the greatest compliment the US can pay to another country, Australia's ambassador Joe Hockey says.

The prime minister will hold formal talks with Mr Trump, Vice President Mike Pence and senior officials including Secretary of State Mike Pompeo and Secretary of Defence Mark Esper.

"There is no deeper friendship than that which exists between Australia and the United States," Mr Morrison said on Monday.

"We see the world through the same eyes, with shared values and a deep commitment to promoting peace, liberty and prosperity."

The prime minister is expected to again press Mr Trump to end the trade tensions with China, which is having a collateral effect around the world including in Australia.

They are likely to discuss national security matters, including Australia's participation in a US-led mission to protect oil ships in the Strait of Hormuz.

Mr Hockey said Australia had to work to maintain the tight ties with its closest ally.

"The key trap that we've got to avoid is being casual about our relationship with the United States," he told Sky News.

"There's another America out there and ... the danger is Australia can be too casual, too familiar with the United States."

Mr Morrison will also visit the NASA headquarters in Washington, meet young Australian tech entrepreneurs in Chicago, and attend the United Nations General Assembly in New York.

However, the prime minister will not attend the UN climate change summit the day before the general assembly, sending Australia's foreign minister instead.

UN Secretary-General Antonio Guterres wants countries to come to the summit with plans to increase their ambition on climate action, but the Morrison government has indicated it won't budge from its promise to cut emissions by 26-28 per cent.

Australian Associated Press