WASHINGTON—President Donald Trump issued an order Friday canceling HieFo Corporation’s acquisition of chips and wafer fabrication assets from Emcore Corp. in 2024, citing national security concerns.
The order prohibits Delaware-based HieFo, controlled by a Chinese citizen, from owning “the assets comprising the digital chips and related wafer design, fabrication, and processing businesses” acquired from New Jersey-based Emcore. The acquisition was completed on April 30, 2024.
