This article explains the U.S. policy of being intentionally vague about defending Taiwan. It is all about maximizing deterrence. Historically, the idea was both to deter China from any attack, but also to deter Taiwan from a declaration of independence that would be likely to provoke an attack. Going forward, this article suggests arming Taiwan to the teeth and encircling China by stationing U.S. forces in Japan, the Philippines and Australia.
I don’t know – not being a foreign policy expert but not wanting war or especially nuclear war, I might focus on convincing China that the U.S. is not a threat to them as long as they do not threaten Taiwan. And keep reducing our nuclear stockpile so they don’t feel like they have to keep growing theirs, and consider a no first strike policy.
Formalizing the U.S. alliance with other countries in the region sounds a bit NATO-like, and look how well that has been working for Europe.