On July 4, the Valdai Club hosted a presentation of the Valdai Paper “The Semiconductor Reindustrialisation of the United States: Implications for the World.” In recent years, the American leadership has been promoting ideas of technonationalism. Against the backdrop of geopolitical and technological rivalry with China, the United States is seeking to minimize imports of chips from Asia, which are needed for a wide range of consumer goods, military equipment, and artificial intelligence systems.