China should be careful here, if this does not work then they are pretty much done for, although the CCP can claim mental victory as usual as they've been propagating it as the silver bullet.
If the US pulls this sort of erratic crap with one of its major trade partners, others will go look for alternatives too. Yes this will hurt China, but I think you underestimate how hard this would hit the US. This is the next economic crisis in the making, and at least some people in the US government seem to realise this, since the best solution for boosting the economy is going to war. Hello Iran?
This is not China that is at fault, it's the US that's being a little cry-baby.
It didn't work. The south didn't appreciate england's disgust with slavery. England developed other suppliers and found replacements.
Nobody is ever quite as special as they think they are. This goes for all sides.