Meanwhile, President Trump vowing big tariffs on computer chips unless companies manufacture them in the United States. CNBC's Megan Cassella is live in Washington with that. Megan, good morning.>> Hey, Melissa. Good morning. So, really for the first time, the president offering us last night a preview of just how high he's looking to lift those tariffs on all imports of semiconductors as soon as sometime this month.Take a listen. We'll be putting a tariff on of approximately 100% on chips and semiconductor ...

Manufacturing Renaissance & Investment Impact - The administration highlights a $17 trillion investment aimed at revitalizing American manufacturing [1] - The focus is on bringing back companies that had previously moved production overseas [2] - This initiative is expected to create jobs, generate wealth, and enhance national security [4] Semiconductor Industry - The US aims to regain its dominance in the chip industry, targeting almost 50% chip production domestically, a significant increase from near-zero [3] - Major chip companies are investing in facilities in Arizona and other locations [3] Workforce Development - Emphasis is placed on training and developing a skilled American workforce to fill new manufacturing jobs [5][6] - Training centers are being established alongside manufacturing plants to equip workers with necessary skills [6] Energy Sector - The US energy sector is experiencing a boom, leading to lower gasoline prices [7][8] - Despite global trends towards renewable energy, the US has increased coal production [7]

Geopolitical & Economic Landscape - China has become the world's second-largest economy and a military superpower, but faces industrial choke points hindering its independence [1] - These choke points make China vulnerable to US pressure in trade wars and export controls [1] Industrial Challenges & Opportunities - China faces challenges in advanced computer chips and essential manufacturing components [2] - China is systematically addressing these choke points using AI to accelerate progress [2] - Some choke points, like advanced semiconductor manufacturing, may take years or decades to resolve, while others are nearing resolution [2] Competitive Landscape - Products affected include carbon fiber for aviation and ball bearings for various industries [3] - European, Japanese, and American rivals are now on high alert due to improving Chinese quality and yield [3]