I did see a talk where someone was making the case that if the U.S. depends heavily on China for steel, and Taiwan for chips, then if China invades Taiwan the U.S. would very quickly be unable to wage a war with both supplies cut off. So the goal is to build some capacity for such products domestically.

They also tied that to Trump's desire to get out of Europe and deescalate the Middle East, being that if the U.S. was already stretched across Ukraine and say Iran, it would be way to stretched to also wage anything in the far east.

I'm no expert by a long way, but I can see some logic in the argument.