London (CNN Business) An annual summit between the European Union and China threatens to expose deep cracks in the foundation of one of the world's most important trading relationships.

The leaders of Europe's largest countries are increasingly wary of the brand of economic nationalism practiced by China, and are responding with new barriers designed to blunt Beijing's influence.

The messages emanating from European capitals have not been subtle. In March, the European Commission said that China can no longer be considered a developing country and labeled it a "systemic rival." French President Emmanuel Macron went further, accusing China late last month of trying to divide the bloc and declaring that "the period of European naiveté is over."

"I think the Chinese have been surprised by how quickly the mood in Europe has turned," said Erik Brattberg, director of the Europe Program at the Carnegie Endowment for International Peace in Washington.

A key test of the relationship between China and its largest trading partner will come Tuesday, when Chinese Premier Li Keqiang meets EU officials in Brussels for an annual summit. Trade in goods between the European Union and China was worth roughly €575 billion ($650 billion) in 2017.

Read More