Trump blocks Chinese-backed acquisition of USA chip maker Lattice

Trump blocks $1.3bn sale of US tech company to China for ‘national security’ reasons

Trump blocks $1.3bn sale of US tech company to China for ‘national security’ reasons

"CVCF is a Chinese corporation owned by Chinese state-owned entities that manages industrial investments and venture capital".

President Trump blocked a Chinese firm from buying a USA computer chip maker Wednesday, demonstrating to Beijing that he will oppose its acquisition of technology with potential military applications.

It was just the fourth time in a quarter century that a US president has ordered a foreign takeover of an American firm stopped because of national-security risks.

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The decision, first reported by Bloomberg, came as the Trump administration is in the process of reviewing a number of potential sales of USA firms to Chinese buyers.

Trump's decision to personally stop the sale was based on fears that an investment fund with ties to Beijing could send sensitive manufacturing and intellectual property information to the Chinese government, according to Treasury Secretary Steven MnuchinSteven Terner MnuchinThe Hill's 12:30 Report 'Game of Thrones' polling company takes on White House shakeups Trump's tax lieutenants face a critical stretch MORE.

It was the latest in a series of get-tough trade move by Mr. Trump against China. If it doesn't like a deal, it can recommend the president block it.

AMC Entertainment Holdings, Inc. (AMC) Shares Sold by American Century Companies Inc
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However, it was rejected by the Committee on Foreign Investment in the United States (CFIUS) after several months of persuasion by both parties to clear the acquisition.

The national security risk included "the potential transfer of intellectual property" to the Chinese-backed company and the "Chinese government's role in supporting this transaction", according to Mnuchin's statement. Soon after the deal was announced, several lawmakers argued the deal should be killed because the chips are key to certain US military applications.

Lattice's stock fell about 1 percent in after-hours trading on news of the blocked sale.

Increase in BC incomes falls short of inflation rate: census
Lone-parent families and those with more than one children are more likely to be low-income, Statistics Canada. Median total household income in the Hamilton CMA rose from $71,660 in 2005 to about $75,460 in 2015.

In this instance, Lattice and Canyon Bridge refiled three times without winning approval before making the unusual decision to appeal to Trump in hopes of winning him over with a pledge to save jobs.

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