(fxcue news) - European stocks are likely to open on a positive note Friday as China's April exports data beat expectations and reports suggested that the Trump administration is considering slashing tariffs on Chinese imports. Defying expectations, China's exports grew 8.1 percent in dollar terms in April compared with a year earlier, according to statistics from China's customs administration. Analysts had expected 1.9 percent growth. However, imports shrank 0.2 percent, marking the third consecutive month of declines. The New York Post reported, citing sources close to the negotiations that U.S. officials are considering cutting the steep 145 percent tariff on Chinese imports by more than half to somewhere between 50 percent and 54 percent as trade talks unfold. In another significant development, the U.S. Treasury Department said in a statement Thursday that it would set up a streamlined process to facilitate an increase in foreign investment in American businesses from wealth funds in the United Arab Emirates, Saudi Arabia and Qatar. Asian stocks were mostly higher, with Japanese markets leading regional gains amid hopes that the country will reach a trade agreement with the U.S. in June. The dollar was firm and eyed a weekly rise on trade deal hopes. Gold recovered slightly to trade above $3,300 per ounce while oil extending gains after climbing around 3 percent on Thursday, reflecting optimism about the potential for further U.S. trade deals. U.S. stocks ended firmly in positive territory overnight as President Trump unveiled the framework of a trade agreement with the U.K., the first major agreement since the U.S. imposed widespread tariffs earlier this year, and signaled upcoming talks with China this week would be more substantial than initially thought. The tech-heavy Nasdaq Composite jumped 1.1 percent, while the Dow and the S&P 500 both rose about 0.6 percent. European stocks ended mixed on Thursday as investors reacted to the Fed and BoE rate decisions as well as the U.S.-U.K. trade deal. The pan European STOXX 600 inched up 0.4 percent. The U.K.'s FTSE 100 dropped 0.3 percent as the trade deal left in place Trump's 10 percent tariffs for many products, including cars. France's CAC 40 added 0.9 percent and the German DAX rallied 1 percent.