What if we simply do not let China invade Taiwan?
Let’s just save the money upfront by scrapping CHIPS and be ready to defend Taiwan from Chinese invasion? Trump was one of the first presidents to recognize Taiwan with a direct phone call.
The CHIPS act doesn’t deter conflict, but it does reduce the damage if it happens. Losing Taiwan now cuts off the most advanced processors in the world but if they’re making them in Arizona that goes from no supply to short supply with a straightforward path to scaling capacity. That’s a big improvement and it’s a fraction of the cost of a conflict.
Under the aggressive stance of this administration, the CHIPS act doesn’t seem necessary.