The latter is far less threatening to China, not because it trades less, but because it does not leverage as effectively as the United States.
This is exactly the moment China chose to anticipate the next EU-China summit. Indeed, it proposed to hold it on April 9, immediately followed by the 16+1 summit (with Central and Eastern European countries), which the EU always dreads. It would thus be held less than nine months after the previous summit in 2018, which is an unusually short interval. Moreover, President Xi Jinping, who visited Spain and Portugal very recently, is reportedly planning a visit in late March to Paris and Rome.