struggling to understand your logic there, or how the US subsidies would hurt the named countries. South Korea's semi industry evolves largely around the heavi

struggling to understand your logic there, or how the US subsidies would hurt the named countries. South Korea's semi industry evolves largely around the heavily-commodified memory chip production and two SK companies, Samsung/SK Hynix combined, supply about 75% of global memory chip needs. Samsung is South Korea's only foundry business there and their global market share is only about at 15% -- while it's a "growth" business for Samsung, the memory business is still their bread-and-butter. The company also has a $15-B plant in Austin, TX and it looks like they are going to expand that plant by throwing another $17B. Further, in addition to Samsung's announcement to invest $110 in logic chip business (which includes their foundry plant in Austin, TX) last year, the South Korean gov't unveiled $450B investment plan to boost the country's high-tech competitiveness. So it doesn't seem like this particular proposal in the US is going to necessarily divert resources or investment from SK (again, the foundries business is a "growing" business), or "hurt" South Korea. Trump/Biden's chip war on China has been a boon to SK's semiconductur industry otherwise -- it eliminated potential threat from China's "Made-In-China-2025," (announced in 2015) and scared off US companies such as Apple from throwing more money at Chinese companies, though Apple is still fighting hard to protect their supply-chain in China and maintain the quo. All in all, this is reminscient of Reagan's war on Japan in the 80's -- and it's likely to enhance South Korea's chance of further gaining more significant share of the global logic chip manufacturing business. Likewise for TSMC. Sure, Trump's arm-twisting eventually forced TMSC to open foundries in the US, but the Taiwanese gov't has always had heavy handed, direct approach to managing their domestic chip business, from the founding of TSMC in the late 80's to what it is today (ie, direct investment and tax subsidies). Both Samsung and TSMC routinely spends $10B-$30B in capex every year and I don't think that 25% tax credit is going to significantly change the current state of semi-manufacturing for either countries. Japan is no longer the semi manufacturing giant it once was. While they still maintain presence in manufacturing equipment and electro chemical business, they are nowhere as significant as Taiwan and SK counterparts.