The US absolutely should expect for their industry to get hit in a conflict like that.

China knows that the general attitude towards war in the US population is strongly skewed by the fact that they haven't had to deal with the fallout of war on their home turf in recent memory. To the US, war is currently something that happens somewhere else, not at home.

In a conflict, it would just be smart to correct that attitude immediately, and China has the means to do so. Many data centers, major refineries, large industrial targets, and important pieces of the US' supply chain I'd expect to not last the week.

Also China is not going to sit there, taking a beating, and let the US keep the support base that allows them project power overseas (including attitude to war) when it is within China's means to severely cripple the US' ability to do so. China has the home-turf advantage, allowing them to fight the same war for cheaper, guaranteeing victory even if the US retaliates in kind.

Will there be a conflict over Taiwan though? I strongly suspect that if China started blockading Taiwan tomorrow, no other power would do anything about it, because there's no realistic path to win that conflict. It might just get handed over with no shots fired.

There'd be meetings, and negotiating tables, and strongly worded threats, and sanctions, but eventually some agreement would be signed for the transfer of Taiwan.