If China invades Taiwan and we haven't had a chance to spin up chip infrastructure on the American continents, we're in for a world of pain. How much of the infrastructure can be bootstrapped without the existing TSMC infrastructure?
Intel has foundries in the US. GlobalFoundries has some in Germany. The old IBM research facilities in New York are likely still producing on older nodes, along with the former TI facilities in Texas. We wouldn't have the latest greatest nodes operational for a while, and there would be shortages, but I don't think it would endanger military production or other critical systems.