President Biden’s plan to plow billions of dollars into semiconductor manufacturing represents a sharp turn in American economic policy, one aimed at countering China by building up a single, critical industry. But Mr. Biden is going even further. He is using the money to change how corporations behave.
If semiconductor manufacturers want a piece of the nearly $40 billion in aid that Mr. Biden’s administration began the process of handing out on Tuesday, they will need to provide child care for employees, run their plants on low-emission sources of energy, pay union wages for construction workers, shun stock buybacks and potentially share certain profits with the government.
