President Trump orders ban of Broadcom’s acquisition of Qualcomm

This afternoon, US President Donald Trump signed an order that bans any attempt by Singapore-based Broadcom from acquiring US-based Qualcomm.

Bloomberg reports that Trump was advised on the order by the Committee on Foreign Investment in the US, the Treasury Department sub-agency that was already investigating national security impacts from such a transaction.

“There is credible evidence that leads me to believe that Broadcom Ltd. might take action that threatens to impair the national security of the United States,” Trump stated.

Broadcom CEO Hock Tan was reported to have spent this afternoon at the Pentagon to curry favor with national security officials. The company had announced today that it would move up its redomiciling to the US by a month, potentially fetching up concern at CFIUS. Trump welcomed Tan to the White House back in November announcing domestification.

Share This Post

Watch the Latest Pocketnow Videos

About The Author
Jules Wang
Jules Wang is News Editor for Pocketnow and one of the hosts of the Pocketnow Weekly Podcast. He came onto the team in 2014 as an intern editing and producing videos and the podcast while he was studying journalism at Emerson College. He graduated the year after and entered into his current position at Pocketnow, full-time.