Is there a future where China uses this as leverage with the rest of the world to put sanctions on the US if we don't transition?
With that excuse specifically? Probably not. But we're 100% charging straight into a future where the US ends up being isolated and subject to punitive extortion of some form, yeah. Once we cross the threshold of being "more annoying to bend the knee toward than Beijing", our particular flavor of hegemony is over and the world enters its new era.