By Alexandra Alper WASHINGTON (Reuters) -Liberal U.S. Senator Bernie Sanders on Wednesday threw his support behind President Donald Trump's plan to convert U.S. grants to chipmakers, including $10.9 billion for Intel,

United States Senator Bernie Sanders has thrown his support behind US President Donald Trump’s plan to convert US grants to chipmakers, including $10.9bn for Intel, into government stakes in the companies. The senator for the state of Vermont announced his support on Wednesday.

Sanders, an Independent Senator from Vermont who caucuses with the Democrats, told Reuters on Wednesday that he’s in favor of the Trump administration’s plan to convert federal grants for tech companies like Intel and TSMC into equity stakes in those companies.