The Biden administration has pledged to provide up to $6.6 billion so that a Taiwanese semiconductor giant can expand the facilities it is already building in Arizona and better ensure that the most-advanced microchips are produced domestically for the first time.
If it was for manufacturing something mundane like lightbulbs, I would agree with you.
But at this point, leading edge semiconductor production is highly limited, specialized, and is being sought after by nearly everyone - and they’re willing to pay top dollar to secure supply.
You can’t really play hardball with someone if they move their entire production and supply output to a political rival, no matter how good your local profit margins may be.
That being said, this is absolutely a mess of our own making from offshoring everything for profit - 6bn is pocket change for the US though, so decades of profit and a manufacturing blitz isn’t really all that bad (aside from carving out the middle class, but that’s another story).