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Trump blocks sale of Oregon’s biggest tech company to China-backed firm

President Donald Trump blocked a Chinese-backed investor from buying Lattice Semiconductor, a personal rebuke that bodes poorly for several other Chinese buyers seeking U.S. security clearance for their acquisitions.

President Donald Trump blocked a Chinese-backed investor from buying Lattice Semiconductor, a personal rebuke that bodes poorly for several other Chinese buyers seeking U.S. security clearance for their acquisitions.

It was just the fourth time in a quarter century that a U.S. president has ordered a foreign takeover of an American firm stopped because of national-security risks. Trump acted on the recommendation of a multi-agency panel, the White House and the Treasury Department said Wednesday.

The spurned buyer, Canyon Bridge Capital Partners, is a private-equity firm backed by a Chinese state-owned asset manager.

“Consistent with the administration’s commitment to take all actions necessary to ensure the protection of U.S. national security, the president issued an order prohibiting the acquisition,” Treasury Secretary Steven Mnuchin said in a statement.

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The Trump administration has maintained the U.S.’s tough stance against Chinese takeovers of American businesses even as it seeks China’s help to resolve the North Korean nuclear crisis. Other Chinese deals under review include MoneyGram International Inc.’s proposed sale to Ant Financial, the financial-services company controlled by Chinese billionaire Jack Ma. 

The government is also examining an agreement by Chinese conglomerate HNA Group Co. to buy a stake in SkyBridge Capital, the fund-management company founded by Anthony Scaramucci, who was briefly Trump’s White House communications director.

Trump’s move builds on years of U.S. opposition to China’s efforts to bolster its chip industry by buying American technology. China, the world’s largest chip market, has been…

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