Commerce Secretary Howard Lutnick on Monday emphasized the push for a U.S. semiconductor manufacturing boom that would expand domestic chip production and reduce U.S. reliance on foreign supply chains. Semiconductor Boom On The Way In a post on X, Lutnick said, "We're bringing back semiconductor manufacturing." We're bringing back semiconductor manufacturing. pic.twitter.com/klHNNNXikT— Howard Lutnick (@howardlutnick) May 12, 2026 The PHLX Semiconductor Index recently reached its highest level s