ASML doesn't make semiconductors :)

Without ASML, nobody will :)

Without ASML, everyone would make their own ASML.

Without TSMC, everyone would make their own TSMC.

This is what we see happening in the world right now. Previously the only consideration was, "Is it cost effective." Now there are a myriad number of other considerations up to and including geopolitical considerations. The US, for instance, has always been able to manufacture lith machines. Economic considerations obliged them to innovate elsewhere. Yet it's obvious that were the EU to threaten US access to lith machines, the US would start manufacturing those machines on their own.

Lith is not even the hard part. TSMC and Intel have the same lith machines. Why is Intel having so much trouble? Because there is so much more to this entire enterprise than doing the lithography.

Well even NXP is bigger lol