Import substitution is usually a loser policy for developing nations. Also subsidies can frequently run afoul of trade agreements because they're basically the

Import substitution is usually a loser policy for developing nations. Also subsidies can frequently run afoul of trade agreements because they're basically the same as a tariff in terms of disadvantaging exporters. National security is not really a valid concern but could maybe be used to justify divestment from China. But that just means diversification of import partners. We could be building fabs in Mexico like we do with the auto industry. Or, as he's actually suggesting, europe.