China v/s Taiwan: How Far Will United States Go?

[Sylvester]

My question is would the Chinese be able to make an American intervention in the straits of Taiwan too costly.

In a long drawn out war America would win, its stand off weapons, blue water navy, strategic bombers and cruise missles would severly hamper any offensive
movements by the chinese.

The Senario is thus:

China and Tiawan are moving toward greater union. The Army back by the political opposition cease power. Taiwanies President arrested The Goverment is placed under house arrest. America signals tact support for the coup Leaders, but is caught of balance as it had no advance warning. A new Goverment is quickly formed.

China reacts.

China Declares that the coup is illegal, and demands the reinstatement of the old goverment, this is rebuffed.

Major Taiwanise army and airbases are attacked by bomber and cruise missle assault. Covert Chinese special forces attack selected targets on the Island.
The Chinese land airbourne troops at major transportation hubs around the main landing beaches, amfibious assault quickly follows, although in smaller numbers than had been hoped.

Taiwans Navy and Airforce are unable to cope, but do cause significant caulties to the landing forces esp the paras.

It becomes apperant that without urgent American air support Taiwans fall is a very real possiblity, due to the suppression of air defences and neutralization of the navy.

What would American counter moves be, and what kind of losses would it be willing sustain?