The U.S. have passed the The CHIPS and Science Act, a $280 billion package that contains $52 billion in support for the semiconductor industry.
But China is firmly in its sites as it bans expansion of factories producing in China, particularly where new proprietry technology is involved. This will benefit Taiwan, traditionally one of the biggest players in the market.
Nancy Pelosi is making much of this in her talks in Taiwan, but the Defence issue underlies all when the Chinese Navy is surrounding the island whilst she is there.
China is determined to take back Taiwan, and a bloody conflict could ensue.