Author: CECILIA KANG / Source: New York Times
WASHINGTON — President Trump on Monday blocked Broadcom’s $117 billion bid for the chip maker Qualcomm, citing national security concerns and sending a clear signal that he was willing to take extraordinary measures to punctuate his administration’s increasingly protectionist stance.
In a presidential order, Mr. Trump said there was “credible evidence” that led him to believe that if Singapore-based Broadcom were to acquire control of Qualcomm, which is based in San Diego, it “might take action that threatens to impair the national security of the United States.”
The decision underscored the lengths that the president is willing to go to shelter American companies and ward off foreign investment in the United States. In recent weeks, he has turned to an arsenal of tools — including tariffs and an obscure government panel that reviews foreign investments — to protect American industries and to thwart the rise of China in particular.
The move follows one by the Committee on Foreign Investment in the United States, which typically works behind closed doors and reviews deals only after they are announced, earlier this month to stall Broadcom’s bid because of national security concerns.
Last week, Mr. Trump also
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