Trump canceled the $2.92 million chip deal.

Trump's Striking Decision: Chip Deal Canceled

U.S. President Donald Trump has ordered the cancellation of a $2.92 million chip deal due to national security concerns.

Emcore Corporation and HieFo Transaction

According to the official announcement from the White House, this deal involved Emcore Corporation transferring its production of computer chips and wafer manufacturing to HieFo chip company. However, Trump decided to halt this transaction made during the tenure of former U.S. President Joe Biden.

National Security Threat

In his decree, Trump pointed out national security concerns and stated that the deal was dangerous for several reasons. The president argued that the agreement involved a company "controlled by a Chinese national" and had the potential to threaten American national security.

The 2024 Agreement and Future Possibilities

Trump emphasized that this agreement posed a threat to national security in 2024, stating that the U.S. needs to protect itself from such dangers.