China buys more from US, at the expense of Canada and Australia. As for Canada, China will deal with Canada for Canada's unwise captire of Huawei CFO.

Aussies will be punished as China will buy less of agricuture and natural resource.

Aussies and Kiwis will be big loser for banning Huawei, as the PRC will buy more food products from the US. Huawei products are superior and the European replacement will much more expensive.

As to what $1 trillion of US products China buys, that remains to be seen. China is already largest buyer of Boeing planes and US agriculture. The US is unwilling to sell military weapons and cutting edge products to China.