The world is so crazy I think it's possible that Trump will literally just sell off Taiwan to China in exchange for something.
And while there will initial shock, it will be basically accepted without issue. After all Taiwan isn't part of USA anyway and in most people's eyes they can't be bothered to really see Taiwan as significantly different from China anyway.
Taiwan is China's property. That something else is also China's property. Why should China pay left hand to get back right hand? Any such suggestion is only to encourage blackmailing.
司马迁《史记·魏公子列传》:“公子喜士,名闻天下。今有难,无他端而欲赴秦军,
譬若以肉投馁虎,何功之有哉?” Feeding the tiger with meat, what is the point?
Taiwan is not going anywhere (囊中之物), if US is capable and willing to intervene China will just wait. When US is not capable, China can take Taiwan with minimum cost.
If US offerred this deal before 1990s China may have accepted it because US was at its peak and China was far behind it and seeing no sign of catching up. Now US is clearly going down hill with no sight of recovering while China is quickly overtaking, there is no rush for China to accept any deal. Deals are only made when two sides are tired of fighting and none can beat the other.
Panama's sovereignity can be China's "Taiwan card". Any trouble now and historically made by US are valuable cards that China can use. Taiwan was American's card for 76 years now and will remain for some more years. China should collect and use her cards for the next 100 years. It is like ensurance policies.