I know Trump has a long history of 'doubling down' when challenged, but this seems a risky gambit even for him.
As of right now, team Trump has been touting Covid-related death rates as 'proof' of success, despite all indications that deaths lag case detections by several weeks. It seems there are two possibilities here. Either these soaring case counts will cause a spike in deaths as is the prediction of virtually every infectious disease expert, and August and (likely) September will be absolutely brutal. Or somehow this "goes away" as Trump keeps claiming (most recently on Wallace's interview yesterday) and he can tout this up as a monumental success.
Trump has painted himself into a corner here. He's pushing for schools to re-open at the same time when death rates will are predicted to be on an upward trajectory. He can spread doubt about how 'serious' a positive case is (for now) but he can't waive away the seriousness of deaths and hospitalizations. By August we may come close to or possibly exceed daily mortality records across a broad swath of the US. If we don't tamp down cases within the next few weeks than September will likewise be brutal - and that's when voters solidify their preference, historically. Even if we could magically suppress cases tomorrow, the entire month of August won't be pretty in over a dozen states, including key battleground states FL and NC.