The communists have no intention of honoring any agreement made anyway - they never have.
I doubt that the Trump Administration expects them to. This is essentially a long and complex economic divorce.
Businesses need a long lead time to shift their supply chains out of China. While that is happening, they will continue to posture on holding trade talks, for appearances’ sake.
This round of tariffs is going to hurt the Chinese economy. $25% is more than they can make up with currency manipulation and lower lending rates from State banks.
Bottom Line: They will be losing the business that has the 25% tariffs over the next year or two, along with its whole supporting supply chain, and the economic support of all the jobs associated with that volume.
If China loses the US market entirely (if the next round of 25% on 325 billion is levied), they will have a net trade deficit with the rest of the world. They are vulnerable to potentially epic debt and currency crises at some point - they are way out of whack by objective measures.
I no longer think any deal can be made unless China throws in a HUGE geopolitical treat. Even then, they don’t have that much to offer...
Their economy is just in too bad of a shape now for them to do serious change to it. And that’s their own fault.
Well, let’s see how long they can support the Yuan lol!