I took the previous comment as satire, considering that - for example - Chinese electric vehicles are now far more affordable than anything produced domestically in the US.
You can expect to be able to buy exactly that many chinese GPU or neural processors.
A move like that will seriously hurt our ability to train and raise new software developers and the domestic game market.
The US does need to start protecting its manufacturing again, but it’d be lucky to start at a level as high as high end semiconductors. That’d be like a stroke victim trying to run before they re-learn to walk.
As others have pointed out, this means less services, more manufacturing, less consumption, a probably a lower standard of living. But with the business as usual alternative looking a lot like business as usual in the western Roman Empire circa 450 CE, taking a hit to your standard of living while investing in a future which you still have the slightest control over, maybe feels like a decent trade.
Imagine if in 2010 the USA had banned itself from using computer hardware more powerful than they had at the time. Where would they be in the AI race? That's the situation the USA is heading for.