"When I think about the semiconductor dependency that the U.S. has on Taiwan, it does get scary pretty fast," says former U.S. Secretary of Commerce and cochair of CFR's Task Force on Economic Security Gina Raimondo. Raimondo explains that the United States buys 90% of its advanced chips from Taiwan, and if that supply were cut off, millions of Americans would lose their jobs. She says the U.S. once dominated semiconductor manufacturing but "we took our eye off the ball" over the past 40 years.

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