I'll admit, I'm not 100% onboard with the way Trump is handling this. Here's what I'd do instead:
- I would target 2 or 3 industries you want here in the US. Let's say, Semiconductors, Pharmaceuticals, and Auto manufacturing.
- I would provide tax brakes and perhaps even short-term subsidies to get TSMC to move most of not all of its operations to the US. I would promise to expedite green cards for essential workers from Taiwan to move to the US to work for TSMC. I would also make sure that some of TSMC's critical equipment is also manufactured here in the US.
- I would do the same for Pharmaceuticals and Auto manufacturing. Make sure they have what is necessary to build and assemble cars 90% in the US.
Any tax brakes and subsidies we have to outlay will be offset by reducing the trade war to one just against China. Yes, we are going to have to trade-war China. We need to strip certain critical industries away from china and make it profitable for them to do business here.
Then, once we've achieved the goal of bringing these industries home, we can go after other critical industries like ship building perhaps. Strategically. One or two industries at a time.