Trump blocks Chinese acquisition of US semiconductor firm -

Trump blocks Chinese acquisition of US semiconductor firm

Credit: channelnewsasia.com

  • About: 6 days ago
  • 1 views

WASHINGTON: President Donald Trump on Wednesday (Sep 13) blocked attempts by a Chinese state-owned firm to acquire an American semiconductor manufacturer, saying this posed a threat to US national security.

The acquisition of Lattice Semiconductor Corporation, a publicly-traded Oregon company, by Chinese-owned Canyon Bridge Fund could endanger the US government's use of sensitive products the company produces, the Treasury Department said in a statement.

The Trump administration has adopted an aggressive stance towards China on trade and national security matters, launching wide-ranging investigations into the national security ramifications of Beijing's trade in aluminum and steel.

Trump has the authority to block foreign investments he deems national security threats through the Committee on Foreign Investments in the United States, an inter-agency committee.

In the case of Lattice, CFIUS and the president decided "the transaction poses a risk to the national security of the United States that cannot be resolved through mitigation," the Treasury said in a statement.

The decision prohibited Canyon Bridge, its partner Yitai Capital and Yitai's parent, the China Venture Capital Fund Corp (CVCF), from purchasing the US firm, which serves the consumer, communications and industrial markets.

Treasury said the deal posed a national security risk due to Beijing's support for the transaction, the potential transfer of intellectual property to the foreign investors, and the importance of the semiconductor supply to the US government, including Lattice's products.

Lattice manufactures programmable logic devices, which are semiconductors that can be programmed to provide functions similar to chips, the statement said.

Trump personally intervened in the process after the companies appealed to him directly to overrule the CFIUS ruling, according to The Wall Street Journal.

Follow Us on Twitter

Related stories with Trump blocks Chinese acquisition of US semiconductor firm

Doom for Nintendo Switch Announced at Nintendo Direct -World News
Doom for Nintendo Switch Announced at Nintendo Direct 6 days ago
Doom will release on the Nintendo Switch this year, Nintendo revealed during its Nintendo Direct video presentation.
Doklam: PLA gen snubs hawks baying for India’s blood -World News
Doklam: PLA gen snubs hawks baying for India’s blood 6 days ago
The Chinese leadership seems to have sent out a signal that it is unhappy with hawks who demanded military action against India during the Doklam stand-off, and regards them as people with “insufficient knowledge” of Beijing’s approach and objective
CBSE orders psychometric test of all school staff -World News
CBSE orders psychometric test of all school staff 6 days ago
In response to a SC query in the aftermath of the Gurugram school murder, CBSE sent a circular on ‘safety of children’ to its affiliated schools, giving them two months to complete psychometric evaluation of all staff — teachers, non-teaching employ
Cyber threats against the US rising sharply as foes sharpen digital skills -World News
Cyber threats against the US rising sharply as foes sharpen digital skills 6 days ago
Several nations around the globe are capable of launching catastrophic cyberattacks but have refrained from doing so because it would be perceived as an act of war, a veteran security expert said Wednesday. “We’ve been incredibly lucky but I
Securities watchdog backs away from front-seat role in Hong Kong’s stock listing process -World News
Securities watchdog backs away from front-seat role in Hong Kong’s stock listing process 6 days ago
Hong Kong’s securities watchdog has agreed to back out of a front-seat role in approving new stock listings in the city, conceding to overwhelming opposition by stockbrokers, listed company representatives and other financial professionals after a f
Cathay Pacific to save HK$2.2 billion by changing investment in new planes -World News
Cathay Pacific to save HK$2.2 billion by changing investment in new planes 6 days ago
Cathay Pacific Airways has said it will save HK$2.2 billion (US$288 million) by delaying the delivery of long-haul aircraft and switching to smaller long-range planes as the company confirmed a HK$31.7 billion order for 32 short-haul aircraft. Hong Kong&r
Medical Examiner Says ‘Brutal Murder’ of Nashville Girl Will Haunt Him -World News
Medical Examiner Says ‘Brutal Murder’ of Nashville Girl Will Haunt Him 6 days ago
NASHVILLE, Tenn. – A community in Tennessee is on edge following the brutal murder of a 12-year-old girl inside her home, according to WSMV. Police say 12-year-old Yhoana Arteaga was home alone on Aug. 10 after being injured in a skating accident. A
Surveillance Video Catches Wrong-Way Driver Just Before Fiery Crash -World News
Surveillance Video Catches Wrong-Way Driver Just Before Fiery Crash 6 days ago
SACRAMENTO — Watching someone driving the wrong way on a Downtown Sacramento street, headed for a freeway, it’s safe to assume it’s not going to end well. That’s what happened around 5 a.m. Saturday, and by the time someone noticed
Sports Illustrated criticized for tasteless hurricane bikini pictures -World News
Sports Illustrated criticized for tasteless hurricane bikini pictures 6 days ago
The folks behind the Sports Illustrated Swimsuit Issue have raised eyebrows by posting bikini shots from areas affected by hurricanes.
Outrage as well-known rapper 'lynches' small white child in music video -World News
Outrage as well-known rapper 'lynches' small white child in music video 6 days ago
Rapper XXXTentacion is under fire after releasing a disturbing music video featuring a Caucasian boy being lynched on a stage as an African-American boy looks on.
'View' co-hosts slam critics of Hillary Clinton's marriage but Trump-Melania relationship fair game -World News
'View' co-hosts slam critics of Hillary Clinton's marriage but Trump-Melania relationship fair game 6 days ago
When Hillary Clinton was a guest on Wednesday's episode of "The View," the show's co-hosts made one thing very clear: "Mind your own business" when it comes to Clinton's marriage.
Stephen King’s ‘It’ Is Causing Tears For Clowns -World News
Stephen King’s ‘It’ Is Causing Tears For Clowns 6 days ago
'It' is big at the box office, but hurting the professional clown business.