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.

US President Trump is optimistic about a US-EU trade deal to avoid a 20% tariff in July. However, experts warn China may exploit US-EU tensions by offering Europe attractive trade deals, despite ongoing issues like trade imbalances and dumping.

"There will be a trade deal 100%," Trump said ahead of a luncheon at the White House with Italian Prime Minister Giorgia Meloni. "I fully expect it."