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Bottom line here is that in the event of a total trade embargo between the two nations, US growth slows, but China goes into severe recession. The imbalance between the impact on the US and its foreign adversaries of trade embargoes is the reason why these adversaries are always clamoring for the removal of these sanctions, even as they continue to view Uncle Sam as their mortal enemy.

Business usually works out its trade differences and most are resolved reasonable. Its when govt. gets involved that the real problems start. However all the government sanctions in the world will not stop commerce. They can only delay it. The real problem for the US would be that they have few merchant ship if there was a trade war. The three largest shipping lines in the world are located in Hong Cong, Indonesia, and Dubai.