Most European companies in China have so far been able to limit the direct damage from the trade war, a survey has found, though a majority conceded their business environment has grown more challenging this year.

The drop in U.S.-bound shipments was offset by a surge in Chinese goods to Southeast Asia, Africa, Europe and Latin America.

China’s exports to the US fell sharply in April after Donald Trump’s triple-digit tariffs took effect, in another sign of the damage the US president’s trade war is causing the world’s two largest economies as they prepare for de-escalation talks.

European stocks were rising Friday, with investors hopeful that a looming trade summit between China and the U.S. can ease global trade tensions. The continent's flagship Stoxx 600 climbed 0.5% in morning trading.

Bessent and U.S. Trade Representative Jamieson Greer were due to meet He in Geneva after weeks of growing tensions that have seen duties on goods imports between the world's two largest economies soar well beyond 100%.

France’s president, Emmanuel Macron; the new German chancellor, Friedrich Merz; the British prime minister, Keir Starmer; and the Polish prime minister, Donald Tusk, started their visit to Kyiv with a solemn tribute to the thousands of Ukrainian soldiers killed in battle, laying flowers at a makeshift memorial at the heart of the capital.

The leaders of four European countries have arrived in Kyiv as calls intensify for Russia to agree to a monthlong ceasefire in the war

The leaders of Britain, France, Germany and Poland headed to Kyiv on Saturday for talks with Ukrainian President Volodymyr Zelenskiy in a show of unity a day after Russia's Vladimir Putin hosted his allies in a Victory Day parade on Red Square.