my guess is it will pressure companies who currently hold on to their secrets without innovating (because they are the incumbent) to start innovating. If your competitors are on an even playing field with you, the only way to survive is to innovate.
https://en.wikipedia.org/wiki/Semiconductor_Chip_Protection_...
Edit: The context for the Chip Protection Act is actually in Intel's primary wikipedia page:
"During the late 1980s and 1990s (after this law was passed), Intel also sued companies that tried to develop competitor chips to the 80386 CPU.[32] The lawsuits were noted to significantly burden the competition with legal bills, even if Intel lost the suits.[32] Antitrust allegations had been simmering since the early 1990s and had been the cause of one lawsuit against Intel in 1991. In 2004 and 2005, AMD brought further claims against Intel related to unfair competition."
Of course, now the effect applies to those two where people wanting iOS were stuck with ObjectiveC and ARM while people targeting ChromeOS had to support its ecosystem/model. Legacy effect just shifts here. Truly portable and self-contained software is rare these days. Mostly only OSS stuff.
Also the Chinese might catch up faster than people think. Two small examples:- Xiaomi's MIUI has really been one of the most innovative android ROMS out there balancing usability and functionality. Another one, we use multitouch IR-based components. Right now the top 2 most innovative and competitive providers are both founded by Chinese, although one is headquartered in the US.
Basically, the whole "Chinese know only how to copy" argument is an excuse to be complacent, made by people thinking their culture or genes or whatever will protect them.