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As Washington revs up for an election year, the obscure field of semiconductors is shaping up to be front and center in President Biden’s economic policy.
Semiconductors, or “chips,” usually exist quietly, serving as the brains inside everything from smartphones to self-guided missiles. The average voter probably thinks about them rarely, if ever. But chips are having their moment, with the Biden administration identifying them as key to its plans to create jobs, revitalize U.S. manufacturing and cement U.S. technological leadership over rivals like China.
The administration recently began rolling out $52 billion in subsidies to boost the U.S. semiconductor industry, in a program called “CHIPS for America.” Voters can expect to hear a steady drumbeat about the program in coming months, as Biden makes the argument that…
