One does not simply...
...build a chip fab.
The major problem is the supply chain for all the materials. Currently, China dominates there and it would be very difficult for the US to strong arm the supply chains into changing. The US is at a massive geographic disadvantage when it comes to supply chains it is essentially in it's own hemisphere. Even if the US can secure the raw materials, anything manufactured there will always been orders of magnitude more expensive than in China / India / Philippines / Taiwan / Thailand etc.
There is also the other elephant in the room...labour costs.
If the US magically manages to fire up some fabs and the price is somehow competitive, then that tells us a couple of things. 1) We've been ripped off for years by the likes of Intel, NVIDIA, AMD etc. 2) It's not as difficult to produce chips as we've been led to believe.
I suspect by the time the US has some fabs fire up, China will have caught up in terms of their own chip design and we'll have some kind of price war.
Or mass produced quantum chips are closer than we think and those will be made exclusively in the US for a while which will render high end Chinese product obsolete.