Trumps base is starting to erode.

[Yonadav]

The confrontation with China is not going well for China.

That's not what I have read; in fact, the Chinese appear to be weathering things just fine, buying and selling from elsewhere.

I don't know where you read that, but the Chinese economy contracted in December and January.  The Chinese have made overtures with the Trump administration about increasing their purchases of American products to the tune of one trillion dollars that would wipe out the trade deficit over the next several years. The deal is widely regarded as too good to be true, and the Chinese are not really trusted to honor such an agreement.