03.01.2026 16:32
U.S. President Donald Trump ordered the cancellation of a $2.92 million chip deal on the grounds of "threatening national security."
According to a statement from the White House, Trump halted the agreement involving the sale of computer chips and wafer production activities of the aviation and defense company Emcore Corporation to the HieFo chip company for $2.92 million during the term of former U.S. President Joe Biden.
"ACTIONS THAT THREATEN THE NATIONAL SECURITY OF THE UNITED STATES..."
In the decree published on the matter, Trump expressed national security concerns, noting that there is "credible evidence" that the company, "controlled by a Chinese national," could engage in actions that would jeopardize the national security of the United States.
Trump stated that the agreement made by the companies in 2024 poses a threat to the national security of the United States.