Talk about jumping to conclusions!!!! Having a preliminary meeting to discuss the issues is hardly "blinking". The Chinese haven't capitulated on anything, but already Trump is lowering expectations for the American people.
When Trump announced his tariffs, he said he was going to do "90 deals in 90 days". Trump said that 70 countries had called him to "make a deal", but then it turned out that only 15 were actually "trying to make a deal". Some of those countries said that the Administration didn't know what they wanted.
In his press conference with the Canadian Prime Minister, Trump said that everybody keeps asking to see these deals. He doesn't haven't to even sign any deals, he can just make an announcement of a deal and that will be sufficient.
In other words, nobody is negotiating with him., and he has no deals,, so he's going to pretend he's made deals, claim victory, and cancel the tariffs, because he's failed miserably in trying to impose them.
Both the US Senate and the Courts are now looking at declaring Trump's tariffs as illegal, by declaring that there is no "national security issue" which would give him the legal right to institute tariffs in the first place.