Huawei will suffer a little bit in the short term and most likely come back stronger since they have the home market and resources to develop a new and better phone with non-USA parts.
This trade&tech war is just beginning and is pushed by the USA to do everything without parts/commodities from the USA. So that is exactly what China will do. It will take some time, but China has plenty of resources and
- will buy soy from Russia and stop buying it from the USA
- stop buying tech from the USA and make it themselves.
Not well thought through by Trump and his advisors.