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.

President Donald Trump signed an executive order on Tuesday that launched a national security investigation into the U.S. reliance on imports of critical minerals, after China suspended exports of certain rare earth metals and magnets.