Nvidia Chief Executive Officer Jensen Huang, who runs the semiconductor industry’s most valuable company, said the US is as much as 20 years away from breaking its dependence on overseas chipmaking. From a report: Huang, speaking at the New York Times’s DealBook conference in New York, explained how his company’s products rely on myriad components that come from different parts of the world — not just Taiwan, where the most important elements are manufactured. “We are somewhere between a decade and two decades away from supply chain independence,” he said. “It’s not a really practical thing for a decade or two.”

The outlook suggests there’s a long road ahead for a key Biden administration objective — bringing more of the chipmaking industry to US shores. The president has championed bipartisan legislation to support the building of manufacturing facilities here. And many of the biggest companies are planning to expand their US operations. That includes Taiwan Semiconductor Manufacturing Co., Nvidia’s top manufacturing partner, as well as Samsung and Intel.