Peacetime domination of trade has nothing to do with wartime disruption of supply lines. Look at Yemen and Houthis. They are ... well... no one. And yet they made life hell for Israeli, British and American container ships with just few low tech drones and explosives. Because of their strategic location. And they are not fully trying as well.China is already dominating the maritime trade, US sanctions China over Huawei, EVs..., China's maritime global domination is much bigger than Huawei and EVs, why stops US from doing anything to cut China's this global domination?
Geography matters a lot.