Will he do this for Chinese manufacturers? I'm not sure, but I think they have a decent market share. If this is true, then, I guess, there will still be some missing supply, at least in the short term.
Now, that's not even the main problem. Imagine if someone did something like this with RAM or NAND. Again, maybe I'm stupid, but this sets a precedent. It's not currently possible to move RAM manufacturing (fully satisfying the demand) to the USA, though, so I doubt anyone sane would try to do so.