The Economic Times News

President Trump orders divestment in $2.9 million chips deal to protect US security interests

President Trump has ordered the divestment of a $2.9 million computer chips deal, citing national security concerns. The transaction, involving Emcore Corp. and HieFo Corp., was previously announced during the Biden administration. Trump's executive order demands HieFo, reportedly owned by a Chinese citizen, relinquish the technology within 180 days.