If we sort-of mush the Democrats and Republicans together; the US Economic Strategy for the last however many decades has been to import stuff from overseas and beef up on services. The result has been titans like Apple (best of breed at outsourcing manufacturing to China), Amazon (best of breed logistics, very strong at importing from China) and Google (amazing service).
Is there any reason to be surprised that the US no longer manufactures the world's most sophisticated chips? Is there any political will to change strategy?