Overseas territorial losses after a hypothetical American defeat

What would Britain and Japan do to the United States if America lost such a world war?

They would probably take American overseas territories and protectorates, not attempt to conquer the continental United States.

In this counterfactual, a defeated United States would probably lose protectorates, colonies, and territories in the Caribbean and Philippines. Occupying New York or San Francisco is rejected. The proposed settlement redistributes overseas positions, with an unwanted holding such as Midway possibly transferred to New Zealand or Australia. Such a defeat is expected to strengthen American isolationism by making voters less willing to engage in world affairs.