Sorry mates! No more shrimps on the barbie! Have a fun time keeping the Malacca Straits open for business without the US Navy...
In addition, the loss rate for PRC-Australia involved vessels and planes will go way up as well, coincidentally.
Think of it as the incident with the Chinese Embassy in Belgrade happening for every single ship, and that the US wouldn’t require direct involvement to happen. All the US would have to do is step back, watch, and ensure no friendlies are lost.
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That said, how strong are the US’s ties with Japan and the Philippines? They’re both actively attacked by China in some form and side with the US to some good degree. It would do well to make sure the US strengthens relationships in the region - especially ones that stand against China.