Sure, the loophole is a part of the law, as I (and others) stated. Congress passed the law, which included a simple and easy way for a president to suspend it once of 90 day, with weak and unenforceable requirements to invoke it. Given that this is an unusual clause to have in a law, I feel comfortable calling it a loophole.
That's not a loophole. It was intentionally designed the way it's been written to be used the way Trump is using it--to give the President leverage and the ability to save face for Beijing.
It's not a loophole, it's a clear power granted--with strict limits--within the scope of a short bill.