Washington
\nUS President Donald Trump has blocked the proposed USD 1.3 billion acquisition of an American semiconductor company to a Chinese government-financed firm, citing national security concerns, the White House has said.<\/p>\n
A federal panel that reviews foreign investment in the US for possible security threats ruled against the proposed USD 1.3 billion purchase last week of Lattice Semiconductor, a Portland, Oregon-based company.<\/p>\n
In his executive order, Trump said Lattice and Canyon Bridge \u201cshall take all steps necessary to fully and permanently abandon the proposed transaction\u201d, within 30 days.<\/p>\n
\u201cCredible evidence leads me to believe\u201d the buyers of Lattice \u201cmight take action that threatens to impair the national security of the United States\u201d.<\/p>\n
Lattice is a publicly-traded company headquartered in Oregon that manufactures semiconductors for the consumer, communications and industrial markets.<\/p>\n
Trump made the decision under the Defence Production Act which authorises him to suspend or prohibit certain acquisitions that result in foreign control of an American business, White House Press Secretary Sarah Sanders said.<\/p>\n
Trump reached on this decision after considering several factors and a review of a recommendation from the Committee on Foreign Investment in the US.<\/p>\n
\u201cThe national-security risk posed by the transaction relates to, among other things, the potential transfer of intellectual property to the foreign acquirer, the Chinese government\u2019s role in supporting this transaction, the importance of semiconductor supply chain integrity to the US government, and the use of Lattice products by the US government,\u201d Sanders said.<\/p>\n
US Treasury Secretary Steven Mnuchin welcomed Trump\u2019s decision. He is also the chairman of Committee on Foreign Investment in the United States (CFIUS).<\/p>\n
\u201cCFIUS and the President assess that the transaction poses a risk to the national security of the US that cannot be resolved through mitigation,\u201d Mnuchin said.<\/p>\n","protected":false},"excerpt":{"rendered":"
Washington US President Donald Trump has blocked the proposed USD 1.3 billion acquisition of an American semiconductor company to a Chinese government-financed firm, citing national security concerns, the White House has said. A federal panel that reviews foreign investment in the US for possible security threats ruled against the proposed USD 1.3 billion purchase last […]<\/p>\n","protected":false},"author":1,"featured_media":4852,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[87],"tags":[361],"class_list":["post-4851","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world","tag-donald-trump"],"_links":{"self":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/4851","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/comments?post=4851"}],"version-history":[{"count":1,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/4851\/revisions"}],"predecessor-version":[{"id":4853,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/4851\/revisions\/4853"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media\/4852"}],"wp:attachment":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media?parent=4851"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/categories?post=4851"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/tags?post=4851"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}