U.S. President Donald Trump has ordered the reversal of a $2.9 million computer chips deal that he says threatens U.S. security interests if the current owner, HieFo Corp., remains in control of the technology. 

According to Security Week, the executive order issued on January 2 cast a spotlight on a business deal that drew scant attention when it was announced in May 2024 during President Joe Biden’s administration. Under that deal, aerospace and defense specialist Emcore Corp. sold its computer chips and wafer fabrication operations to HieFo for $2.92 million — a price that included the assumption of about $1 million in liabilities.

But now Trump is demanding that HieFo divest that technology within 180 days, citing “credible evidence” that the current owner is a citizen of the People’s Republic of China.