Semiconductor chips are perhaps the best example of what a globalised market can achieve. At the core of electronic devices, they enable advances in telecommunications, computing, artificial intelligence, robotics, transport, medical equipment and military systems. Demand and the cost and complexity of production have created highly specialised global supply chains and open trade to ensure components can be quickly manufactured and shipped to where they are needed. Washington’s belief that China’s involvement in the industry threatens national security and its push to decouple through boosting domestic manufacturing threatens technological advances while carrying a significant price tag for companies and consumers….