The U.S. Can’t Win the Battle Over Semiconductors Alone

Semiconductors, the tiny chips that power everything from Apple iPhones to F-35 fighter jets, are a true product of globalization. Their technological sophistication is matched only by the logistical complexity of their supply chains, which stretch across the planet. It should be no surprise, then, that these chips are feeling the impact of accelerating deglobalization. Over the past several years, manufacturers of everything from shoes to home appliances have moved to reshore production, encouraged by protectionist governments erecting trade barriers to protect domestic economies from geopolitical forces. Gradually, the “just-in-time” supply chains of the globalized world, which outsourced aspects of […]