Semiconductors have become an integral part of nearly every industry inadvanced economies. The production of these semiconductors is largelycentered in the western Pacific region and, for the highest-end semiconductors,exists almost entirely in Taiwan. Although this level of industrial baseconcentration for such a critical economic input raises challenges in and ofitself, in this report, we examine the important geopolitical considerationsof this concentration. The challenges around Taiwan’s relationship with thePeople’s Republic of China have not abated and have even accelerated to adegree. Taiwan’s market dominance is enmeshed with these geopolitical considerationsand requires careful analysis. To explore the geopolitical implicationsof Taiwan’s semiconductor dominance, the RAND National SecuritySupply Chain Institute conducted a tabletop exercise with representativesfrom across the executive and legislative branches of the U.S. governmentand from a variety of industries that rely on semiconductors. Although thisexercise did not produce definitive results, it did suggest several important—and, to a degree, counterintuitive—findings for continued exploration.