Yet analysts say the Chinese leader is likely holding out for concrete deliverables before agreeing to the high-profile meeting. Trump dramatically escalated the trade war with the world's second-largest economy in April, rolling out sweeping new tariffs that prompted China to respond with its own export duties and other measures.

China’s high dependence on exports will likely be a key focus of a new round of U.S.-China trade talks this coming week in Stockholm, but a trade deal would not necessarily help Beijing to rebalance its economy.

As Chinese President Xi Jinping vowed to deepen ties with the European Union, the bloc's top official raised concerns over a growing trade imbalance, underscoring the strains beneath the diplomatic niceties. Chinese and EU leaders held a meeting Thursday as the 25th EU-China summit got underway.

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Von der Leyen and Costa will raise thorny issues such as the trade imbalance, rare earths and Ukraine during meetings with Chinese President Xi Jinping and Premier Li Qiang. The EU defines China as a "partner, competitor and systemic rival", which frames its strategic approach to China policy.

The U.S. will now charge at least 15% on all imports, the highest level in decades, and President Trump says that if other countries don’t seal new deals by early August (mid‑August for China), tariffs will rise and push costs higher for businesses and shoppers.