The week has become even trickier to predict, with talks between the U.S. and China now taking center stage, potentially complicating the picture for Europe.

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There were big trade talks in Beijing yesterday, where the EU raised concerns with China about trade imbalances.

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

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.

The recent summit between the EU and China marked an inflection point in their trade relations amidst global tensions. Discussions covered trade and geopolitical issues, with an emphasis on overcoming challenges in the relationship.

BRUSSELS--European leaders are meeting with top Chinese officials in Beijing on Thursday to discuss trade, climate change and global conflicts, with observers saying expectations were low for any solid agreements.

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.