it's enough for a government to say it won't buy chips manufactured abroad and presto, you have TSMC fabs being built on US ground as we speak; EU is close behind.
Carrots and a lot of stick got TSMC to open a small fab in the US for sensitive supply chains. JP and EU are getting similarly marginal expansion. Reality is significant high-value strategic production will stay on the island in short/medium term because TSMC/TW will fight tooth and nail to prevent erosion of their silicon shield. There's no presto, everyone knows banning TSMC chips would kill trillions of western high tech industries.