No sector will be more deeply affected by the current tensions between the USA and China than the semiconductor industry. Even if the Trump administration comes to a settlement over trade and cybersecurity issues tomorrow, and removes the latest restrictions on Huawei, China will still be reconfirmed in its determination to build its own chip industry and become technologically self-sufficient. The world’s second biggest economy cannot be subject to the kind of abrupt, and very public, actions that almost crippled ZTE last year, and have now been imposed on Huawei. This will hit western semiconductor players in two ways. If sanctions persist, they will lose some significant customers. Even if they do not, they will lose Chinese business if ZTE,…