I wouldn't have pictured Trump as a spelunker, but he just caved big time to China. Kevin Drum has a chronicle:
Behold the greatest negotiator our nation has ever seen:
President Donald J. Trump and President Xi Jinping of China had a lengthy telephone conversation on Thursday evening. The two leaders discussed numerous topics and President Trump agreed, at the request of President Xi, to honor our "one China" policy.
UPDATE: (from NYT)
“Trump lost his first fight with Xi and he will be looked at as a paper tiger,” said an adviser to China’s State Council.