Yes, trump isn't sanctioning them, and China isn't challenging the U.S too.
If west (U.S isn't alone) want to sanction the china, then there will be no more production in China for other countries to be dependent on. from small electronic parts to manufacturing infrastructures, they are either under license productions or heavily rely on subsidiary imports from west, do you think Chinese suddenly turned into an electronic manufacturing giant?! no. they are producing them under license.
even if they pull out their factories from China, still they can easily find cheap labors around the world. They Chose china in the past, cause it was a concession to keep China in control. the more Chinese disobey = the more lose of that concession.
You must live in a shell and know nothing about China‘s manufacturing power.