"Cutting off all US supply chain in China" is on the table, but definitely way down the list of what China wants to do.
Exactly. It's one thing for China cut off the supply of microchips to the United States. The U.S. would have to make a massive investment in building new supply chains domestically and with other countries.
It's another thing if the United States cuts China off from $6 billion in soybeans each year. China's population will start to starve long before a microchip shortage really hurts the U.S.