They can create perverse incentives that end up boosting foreign manufacturing.

This week, the Biden administration said it’s awarding $1.5 billion to chipmaker GlobalFoundries to expand its manufacturing here, in the largest grant under the CHIPS Act so far.

While delays and shortages could be just short-term disruptions, tariffs, which also push up prices, are expected to remain.

Semiconductors are in almost everything, including military equipment, and we don’t have enough of them.

Perhaps the best-known symbol of American patriotism, the American flag is made in the U.S. 94% of the time.