It is funny, you could take articles from the 1980's about Japan taking over Americas grip on technology, swap Japan to China and they would read almost the same to what we are seeing today.
Yes, there are some different key details but the parallels on the messaging is neat to see.
It's because of last year tensions around Taiwan and TSMC. Reliance on this company hit an all time high and tensions showed that it was strategically risky. So both side have been pushing local foundries projects via grants and other incentives.
IIRC that company is called Zhaoxin, which has had mild success getting ~Zen 2 performance domestically.
I'm not to sure why WSJ is citing that as a 'national security issue', everything related to China seems to be called that now.