which it seems like we're only doing for chips right now because the US is concerned about losing Taiwan for some reason

The US is already overextending its supplies in Ukraine and Israel, while also antagonizing China and Iran.

If the US goes full hog on Iran, which they really want to do, they'd be hard pressed to simultaneously defend against a Chinese takeover of Taiwan.

No China doesn't particularly want to do that, but the US being bogged down in Iran while also supplying Israel (and Ukraine under Biden, but no longer under Trump) would probably be their best opportunity ever.

Which means if the US wants to continue antagonizing Iran and China, they have to be prepared to lose their semiconductor colony even if that's not a guaranteed scenario.