Bernie Sanders and Donald Trump form an unlikely alliance over billions in chipmaker subsidies

U.S. Sen. Bernie Sanders (I-Vt.) has been a longtime political enemy of President Donald Trump. However, in a political plot twist, Sanders, considered a progressive, has lined up behind his foe’s plan to turn multibillion-dollar semiconductor subsidies into government equity stakes in private companies. 

The unlikely duo—a self-described democratic socialist from Vermont and a populist-leaning Republican president—now agree on one shift in America’s industrial policy: If the government is going to hand out billions...