President Donald Trump at his Mar-a-Lago estate in Palm Beach, Fla., on Dec. 22, 2025. Tasos Katopodis/Getty ImagesWASHINGTON—President Donald Trump issued an order Friday canceling HieFo Corporation’s acquisition of chips and wafer fabrication assets from Emcore Corp. in 2024, citing national security concerns.The order prohibits Delaware-based HieFo, controlled by a Chinese citizen, from owning “the assets comprising the digital chips and related wafer design, fabrication, and processing businesses” acquired from New Jersey-based Emcore. The acquisition was completed on April 30, 2024.
Trump Cancels Sale of US Chips Business to Chinese Firm Over Security Concerns
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