According to the news, and my guesswork, the global semiconductor chip shortage is mainly a confluence of events and how the industry production timelines operates and perhaps the players in the network influencing each other.
1) There were two distinct events that started it all. One was the Huawei chip ban which lead to a race to finish off production by TSMC to supply Huawei with a stockpile of chips. Two was the pandemic which closed some factories and cause production to ramp up in other types of factories.
2) It takes a few months to complete a chip order, as that is how long production takes. With the pandemic and the rush to get the goods to Huawei, TSMC focused on Huawei it appeared. The pandemic closed the auto factories in the world, therefore no chip order from them. The pandemic caused a surge in electronic equipment demand, who all are in Asia. By the time the western auto factory got back to work and placed their chip orders, TSMC was all booked up. Ford, GM, had to line up and wait.
3) Let's be blunt. Everyone is Chinese. Hislicone goes to TSMC who then forks it over to Huawei. If some white guy from America demands they should be first in line, not sure if anyone is going to listen, everyone will just say they don't speak English. TSMC already got screwed once by President Trump. Who knows what following presidents would do. There would be a great incentive for TSMC to not get screwed later by both sides in the tech war. It is no secret China is domesticating all IC production. TSMC may be selling stuff to a Mr. X in China through the backdoor. Sanctions are made to be evaded. If TSMC wants to guarantee its place in the China market in the future, that is what they will do. That is not too much for them to do, just business, like how they gave Huawei its stockpile of chips.
Look at it this way, corporations are like people, and the greatest instinct for humans is to survive. How does TSMC guarantee it own survival? Pray that President Trump wins the next election? Or be cunning and think for itself?
Then hope it works!