Taiwan is still a close and strategic ally to the US, and will likely remain so until or unless the US loses it's superpower status.
China can declare that Taiwan is a "renegade" province and not a country and the US on will go along with that superficially, but will still treat the two as separate countries in all practical terms.
My sincere hope is that China will make a few missteps down the road and the rest of the free world will finally grow a backbone. A near universal declaration that Taiwan is it's own sovereign country would be a nice outcome.