While indeed it might not be a "technology transfer" in the usual sense, it seems to me that there's not much need for the US to actually use technology transfers. Technology transfer is only partly about being able to make things yourself to save money: it's also about securing the supply chain against "non-violent" foreign interferences: trade wars, sanctions, etc. If the US was worried about that, they might consider it, but no one has the power to do that to them.
Instead, this is more about physical security of the supply chain. They don't need to "officially own" the IP, they just need enough of it safe. They have other ways of making sure that they can have access to the results of that IP on favourable terms.
And, like oil, at that scales, it's not critical to be the sole producer of something, as long as all the other producers denominate their output in your currency. And TSMC already denominates in dollars.
Instead, this is more about physical security of the supply chain. They don't need to "officially own" the IP, they just need enough of it safe. They have other ways of making sure that they can have access to the results of that IP on favourable terms.
And, like oil, at that scales, it's not critical to be the sole producer of something, as long as all the other producers denominate their output in your currency. And TSMC already denominates in dollars.