WASHINGTON—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.
The president said in the order that “there is credible evidence” showing HieFo, through its acquisition of Emcore’s assets, “might take action that threatens to impair the national security of the United States.”
The company has 180 days to divest all these assets, according to the order, unless the date is extended by the Committee on Foreign Investment in the United States (CFIUS). The committee is an interagency body that reviews foreign investments in the United States to assess potential national security risks….
Trump Cancels Sale of US Chips Business to Chinese Firm Over Security Concerns
