What has been and will continue to happen, plus-or-minus China, is countries will give Trump what he wants - the removal of previously existing tariffs on US goods, and the tariffs Trump threatened won't be imposed.
As to China, companies who paid attention to China's industrial espionage and other shenanigans started moving production out of China and to other countries years ago (e.g. Apple shifting production of many products to India). So the Chinese sky-is-falling event will be much less that Progs predict, and China may actually give in to Trump, at least somewhat.
Added clarifications