Well, yes, but for third parties like the UK it makes it much more explicit that the choice is between the system that might be compromised by Huawei and the system that might be compromised by the US. Except the UK has its own little joint venture of security inspection of Huawei systems ...
Also, the UK is one of the Five Eyes nations, explicitly sharing intelligence data with the US and vice-versa. I'm sure they're not 100%open, but if there is any nation on Earth that would not overly fear US spying and prefer it to Chinese spying, it would be the UK.
The alternatives that the US supports are European (Ericsson and Nokia, IIRC) so I see little benefit for at least EU countries regardless of their ties to the US to choose Huawei in this case.
