i don't think china is backing down on this one, whatever art of the deal Trump thinks he is playing, it's gonna backfire really bad.
It's already backfiring. But this won't go on forever. Sooner or later, they will sit down and discuss more favorable trading conditions for both countries. That's something that will happen with other nations in the near future. That was the end-game in that crazy orange head of his.

Threaten them with massive tariffs, then come together and make a deal. Trump isn't a politician, he is a businessman. Businessmen negotiate and make deals.