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Obama Bars China’s Fujian From Buying Aixtron’s U.S. Business

December 2, 2016, 10:36 PM UTC
President Obama Arrives Back To The White House After Trip To Richmond, Virginia
WASHINGTON, DC - SEPTEMBER 28: U.S. President Barack Obama arrives back at the White House, from attending a town hall meeting at Fort Lee, Virginia, September 28, 2016 in Washington, DC. Earlier today Congress voted to override President Obama's veto of legislation allowing families of terrorist victims to sue governments suspected of sponsoring terrorism. (Photo by Mark Wilson/Getty Images)
Photograph by Mark Wilson — Getty Images

President Barack Obama issued an executive order which prohibits China’s Fujian Grand Chip Investment Fund from acquiring the U.S. business of German semiconductor equipment maker Aixtron, the Treasury Department said on Friday.

The White House said it was blocking the deal following an assessment done by the Committee on Foreign Investment in the United States, an inter-agency task force led by the Treasury Department.

“CFIUS and the president assess that the transaction poses a risk to the national security of the United States that cannot be resolved through mitigation,” the department said in a statement.

Aixtron has said that the deal would be called off if the U.S. president opposed it.