It is not just cutting research funding, but also making migrating to the US much much harder. The US has amazing pay for the absolute top researchers, which makes it attractive for even migrants from other developed countries. However life in most other countries is better then one of the new migrant concentration camps the US is building with ICE.

Probably the Anglosphere apart from the US and then other rich developed countries will benefit fro this the most. They all have somewhat working migration systems in place to attract talent. China so far lacks that, but they probably set one up soon.