I think it is too early for the US to cut the ties with China, while in the same time aggravating people all over the world. Including own US companies, and allied ones like in the UK. A loss of jobs in the UK will maybe generate more in the US alright.
But the US run more or less on borrowed money from China, and a lot of US electronic devices are manufactured and meanwhile invented there. As i said Huawei or Xiaomi can easily build those chips themselves, which will of course take time and disrupt further international trade.
One retaliation from China could be closing the Apple plants in China, along with reducing bulk resources export. And maybe this will generate US jobs