I think that now (as in, right now, not next time trump changes his underpants and his entire trade policy), China has more reason to make a deal than previously. They've been singled out, it's no longer USA vs the entire rest of the world (for now).

However, if I had to guess, I'd say they won't back down. Even if the trade war hurts China more than the US, it can only do so once, and then China's free of US influence for good. On the other hand, even with "just" 10% on everybody, this entire escapade has hurt the US in several ways, and the damage is quite permanent.

Denying Trump a "win" to claim now means in 90 days Trump is faced with the prospect of re-imposing his catastrophic global tariffs, or claiming some lesser "win" against some other nations. China will be fully aware of this, and see it as a reason to dig their heels in now. If your enemy is screwing up, don't give him a ladder to climb down. Make him jump. Of course, other countries could give him a ladder, but the way he's carried on, including claiming they're "kissing my ass" etc, it's going to be politically difficult for anyone to offer him anything he might want.

It's also worth noting that all of Trump's tariffs are in place by a somewhat tenuous measure of exploiting laws that say he can impose tariffs by executive order during "emergencies". The only "emergency" currently ongoing for the US is that there is an imbecile and/or foreign agent in the white house. Now obviously with the current congress and hilariously biased supreme court, this mechanism is fairly sturdy. But in 2026 there are mid terms, the potential is there for these legally tenuous tariffs to be wound back.

Meanwhile China's tariffs are nowhere near that fragile. So while Trump may feel he has the upper hand now, he could well find himself with his tariffs shot down and China's still in place in two years time. China will be fully aware of this possibility, although they tend not to make bets with their policy.