All the commentators who are waving their arms in the air and getting sweaty under the collar about how "China will suffer great pain" and "China can't afford to stand up to the Mighty US for long",.... etc have little appreciation for factual reality or differing cultural attitudes.
Look up "Rare-Earth Elements" in Wikipedia.... specifically in regard to the manufacture of Electronics.
Quote from The Economist" : "Slashing their exports of rare-earth metals… is all about moving Chinese manufacturers up the supply chain, so they can sell valuable finished goods to the world rather than lowly raw materials." Furthermore, China currently has an effective monopoly on the world's REE Value Chain. (all the refineries and processing plants that transform the raw ore into valuable elements).
China recognise that, whilst the rest of the world have Oil deposits,... China has the majority in REE's.
The reason so many mobile phones and devices are made in China is part of the deal they struck with manufacturers to get access to these elements.
Negotiation to achieve "mutually beneficial outcomes" strikes me as a better starting point than irrelevant tantrums and empty threats.
As an ex-Cisco employee, I'm very aware of Huawei indiscretions,... China treats IP the same way as Donald T. Rump treats Subpoenas,.... The fact is,... you'll still catch more Bees with honey than you will with vinegar.