Nearly every member of the European Union supports a plan to hit back against President Trump’s tariffs if no agreement is reached.

Investors are hopeful a potential trade deal between the U.S. and European Union could bring more certainty to markets ahead of next Friday's tariffs deadline.

Donald Trump is meeting Sunday with European Commission President Ursula von der Leyen, taking a break from golfing in Scotland to discuss trade as both sides seek an agreement on tariff rates now that the White House's deadline to impose stiff tariff rates is looming.

U.S. stocks finished higher Friday, with the S&P 500 scoring a fifth straight record closing peak. All three major U.S. equities benchmarks saw weekly gains.

Chinese leader Xi Jinping urged the European Union to make “the right strategic choice” and enhance cooperation with China, while EU leaders called for a rebalancing of trade ties, as the two sides tackle deep-seated grievances at a tense summit in Beijing.

European leaders have called for a more balanced relationship with China during a summit with President Xi Jinping in Beijing

European shares closed lower on Friday, as investors assessed mixed corporate earnings while awaiting updates on a framework of an EU-U.S. trade deal that officials said could be reached as early as this weekend.

BEIJING (AP) — China and the European Union have issued a joint call to action on climate change during an otherwise tense bilateral summit in Beijing on Thursday riven with major disagreements over trade and the war in Ukraine.