I suspect it will be more than a "shrug". When the TSMC chip production drops off a cliff European manufacturing will be affected as much as anywhere else. It w

I suspect it will be more than a "shrug". When the TSMC chip production drops off a cliff European manufacturing will be affected as much as anywhere else. It will have more affect than Russia cutting the gas off. With Gas there was existing storage capacity and after 6 months Norway and LNG were there to replace Russian supplies. Sure it cost more but it is out there to be bought internationally. Germany won't be shipping in tanker loads of chips from Qatar, the manufacturing capacity just doesn't exist. This is why Europe and America have woken up to microchip fabrication issue. The capacity to cover being cut off from TSMC fabs wont be online in Europe for many years.