The US has never recognized the One China policy or China's claim over Taiwan. Instead, the US merely acknowledges China's position.

Of course, as a superpower, you have a little bit more negotiating leverage.

However, China's only been successful at bullying countries into recognizing some of its more absurd positions because it has negotiated on bilateral bases, where in almost every case China holds significantly more relative economic clout.

If the US, the EU, the UK, Canada, Japan, and Australia collectively took a position and agreed to provide support for any country that was individually attacked or sanctioned by China for its position, then you'd probably see a much more restrained policy response from China (although their rhetoric would likely be quite loud).

We've known for years that China's foreign policy has largely consisted of "salami slicing" — pressing hard for small concessions that cumulatively result in dramatic changes to international norms, and in the past states engaging in such behavior have been met with a strong and united international response, but for numerous reasons, the reaction to China still remains quite muted.