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

WASHINGTON (AP) — President Donald Trump on Friday ordered the unraveling of a $2.9 million computer chips deal that he concluded threatened U.S. security interests if the current owner, HieFo Corp., remained in control of the technology. The executive order cast a spotlight on a business deal that drew scant attention when it was announced in May 2024 during President Joe Biden's administration. The deal involved aerospace and defense specialist Emcore Corp. selling its computer chips and wafer fabricati ...