The core EUV/DUV IP is co-owned by a mixture of National Labs, and much of the intermediate parts manufacturing has remained in the US as a result. It's not much of a check

> Zeiss the optics

Much of the photonics optics portion is in Dublin CA because of the DoE National Labs commercialization partnership

> ASML the mechanics and metrology

Much of which remains in California as well.

> I gather in Cambridge/UK they'd disagree with you. Even if in classical English stiff upper lip style they may say it less brashly (but not less harshly) than a Texan

Maybe, maybe not.

Hiring data (both open jobs as well as LinkedIn) show otherwise. Their design presence in UK and US is similar in size, and the India one is not far behind.

> This World is rather intertwined

I agree, but the world is not going to end with a goods tariff.

Canada and Mexico have been exempted (thank goodness Congress held the admin accountable), and much of the Americas, Australia, UK, and Philippines have been given a lower tariff slab.

Semiconductors, Pharmaceuticals, Services, Automtive intermediate parts, and a couple other high value goods have been exempted.

The only industries this really hurts is apparel and textiles (never coming back to America anyhow, but now it will return to Latin America) and assembled electronics (consumer electronics will not return to the US either, but Mexico and Brazil are now cost competitive over China and Vietnam).

This kind of a change was inevitable - we faced similar consternation from Europe when we rolled out the IRA under the Biden admin, and we never rolled back the initial tariffs from Trump 1. There is bipartisan appetite for this kind of an action (more planned mind you) but still the principle of supporting American industries either thru subsidies like under Biden or autaurky like under Trump holds.

Now go back to selling off your Satelite players (Eutelsat, OneWeb), Steel manufacturers (Port Talbot), telecom (BT), and battery (Faradion) players to Indian companies like Bharti, Tata, and Reliance.

> > [ on ARM ] > Hiring data (both open jobs as well as LinkedIn) show otherwise. Their design presence in UK and US is similar in size, and the India one is not far behind.

If you're saying here that ARM is a company with a large and near-even (by headcount) presence in three countries (and much more distributed overall), then I agree with you fully.

Else, what was your point again ? You said in your first post that a majority of ARM (based on what metric?) comes off Austin, and that is not true by your own later words.

Anyway, I also agree we should be proud of the work done by companies such as (for example) ASML or ARM. Irrespective of where that happens, to be honest.