Trump Cancels $2.9M Chip Deal Citing China Security Threat

• Donald Trump ordered the termination of a $2.9 million computer chips deal involving HieFo Corp.
• Trump cited US national security concerns, stating HieFo's owner is a citizen of the People's Republic of China.
• The deal, made in May 2024 during Joe Biden's tenure, involved Emcore Corp selling its chip operations to HieFo.
• HieFo Corp, founded by Dr. Genzao Zhang and Harry Moore, was instructed to divest the technology within 180 days.
• Dr. Genzao Zhang, HieFo CEO, planned to use the technology for innovative solutions, including Artificial Intelligence.

Why It Matters: Trump halts a $2.9M chip deal with HieFo Corp over US national security fears linked to China.