Donald Trump Blocks Sale of US Tech Firm To A Chinese Company

By M. Grace, September 14, 2017 19:09 PM

US President Donald Trump(My America Now/ Facebook)

The Trump administration reportedly barred the sale of a United States technology company to a Chinese-back company, citing national security risks.

According to a report by BBC on September 14, the Chinese-backed Canyon Bridge Capital Partners has been seeking approval since November 2016 for a $1.3 billion deal in order to buy Lattice Semiconductor.

Both the firms released statement saying they were disappointed about the decision.

This order came as United States has been strengthening its stand on dealing business with China. It can be recalled that US launched a formal review of the intellectual property practices of China, which reportedly says that US firms may need to surrender important information.

Politicians and military leaders in United States have encouraged the Trump administration to look at the Chinese investments in the country, particularly in the technology industry.

The Trump administration said that the "potential transfer" of intellectual property from Lattice was their concern as the company makes advanced computer chips. They also cited the use of Lattice products by the American government.

Lattice chief executive Darin Billerbeck said in a statement that the failed deal "was in the best interests of our shareholders, our customers, our employees and the United States".

Canyon Bridge, which was backed by China Venture Capital Fund also expressed their disappointment.

"We are obviously disappointed in today's decision by the President of the United States to forgo what we believe to be an excellent deal for Lattice's shareholders and its employees by expanding the opportunity to keep jobs in America," the company said in an emailed statement as cited by BBC.



Related Article

Must Read

comments powered by Disqus

More from CCD

Beheaded Christian Martyrs Honored in Church Inauguration

21 Christians killed by ISIS are honored in the inauguration of a church in Egypt.

Japan's Yuzuru Hanyu Defends Olympic Title; China's Jin Boyang Ranks 4th

Check out the details of the Olympics men's singles figure skating results

Chinese Woman Follows Handbag in X-ray Machine

Woman prevents theft by following a handbag inside the X-ray machine.

17-Year-Old Snowboarder Makes Olympic History

Check out how this 17 year old make history in the current Winter Olympic Games.

Chinese Discrimination Incident at Heathrow Duty Free Shop Deemed Unacceptable

Heathrow Airport Duty Free has allegedly discriminated Chinese customers and treated them unfairly.

Christians Spread Chinese New Year Culture through Spring Festival Couplets

Young Christians invited calligraphers and calligraphy amateurs to write Spring Couplets and send them to communities and friends.

China to Prioritize Employment to Create Millions of Jobs for Citizens

China is now looking into creating new jobs to stop unemployment in the country.

Amity’s Taiwan Partners Send Supplies to Taiwan Quake Victims

Chinese Christian Cross-Strait Corporate Exchange Association and China Sunny Young Care Association distributed hats and scarves to victims relocated in a local elementary school.

Smart Sunglasses Used to Fight Crime in China

China uses "smart sunglasses" to detect criminals.

Understanding Double Standards in the Christian World

How should Christians understand and see double standards?