China's scanners from SMEE that can pattern 28nm chips will be coming online in 2025 and you can expect downward pressure on anyone who makes mature chips.
28nm to 7 is a 2 year dash by which TSMC and others will be at 1nm.
Fun times ahead
It’s not Chinese chip manufacturing vs United States chip manufacturing. It’s China vs the West, which includes US, Japan, and the Netherlands. The United States wouldn’t be able to make advanced chips without the Dutch companies either.
moreover they can protest however they want, but they've been threatening Taiwan long enough now to be not exactly surprised if e.g. NL decides to cut access to latest manufacturing tech