China has already been conducting military exercises around Taiwan, I don't think the US navy can get close enough to help at this point. If China wants to take Taiwan by force I think they will certainly be able to do it.
However, what will the US do once they lose most of their ability to manufacture semiconductors? Seriously this will be like going back to the stone age for them, will they be forced to do something crazy? It's not like they have the ability to move production, and I expect that China will act to counter capital flight if it is serious about taking Taiwan.