That's not happening, at least not in mid-term. In past 3 decades China has worked, to much damage to its environment, to a position where it's effectivelly the only major supplier of rare earth elements left. These are the key group of elements essential in manufacturing any modern IC. Any manufactuer that does not have at least part of its production stack located in China is a subject to severe quotas on export of said elements ( both formal and informal).
While it is teoretically possible to reopen those surface mines in US, Canada and Germany, it would take years to rebuild all infrastructure around them and get them to capacity. And that's not even considering the pushback from eniromental groups that would have followed due to huge enviromental damage these surface mines and their processing facilities come attached with.
This is also reason why Intel ships a lot of finished wafers made in US to China to be cut, tested, packaged and slapped with "made in china" only to shipped back to US right after.