China and the European Union may be looking to strengthen trade ties as Beijing looks to ramp up exports to the EU as trade with the U.S. falters under severe tariffs.

Trump revealed for the first time Thursday that the U.S. is talking to China about a deal on tariffs, but he wouldn't say if he's talked to China's Xi directly.

Trump on April 2 stunned the world with massive tariffs that he said would prevent countries like China from “ripping off” the U.S. Chinese leader Xi Jinping ditched official caution and issued a patriotic message casting doubt on whether American voters could bear as much hardship as the Chinese.