Trade in integrated circuits is worth almost $1 trillion annually. This includes processers, controllers, memory chips and the like, which form the centrepiece of most things we use or drive. Machinery and related parts, accessories and tools for producing semiconductors are worth another $100 billion per year. The value of semiconductor and machinery trade is higher than it was in 2018, but trade patterns are changing significantly with new production capacity being established around the world and not just in China and the United States.