On January 2, 2026 (local time), US President Trump issued an executive order to stop the nearly $3 million acquisition of the US chip company Emcore's assets by the Chinese-controlled US firm HieFo. The move was based on "threats to national security." The order mandates that HieFo divest all of its equity stakes in Emcore's assets, including associated intellectual property rights, within 180 days. Emcore has been a long-standing supplier of crucial components for US military and aerospace projects and is deeply integrated into the defense supply chain. The main reason prompting the US review was HieFo's shareholding structure, as a Chinese citizen, who was previously Emcore's Vice President of Engineering, held control over the company. Moreover, the US alleged that HieFo failed to notify the Committee on Foreign Investment in the United States (CFIUS) during its 2024 acquisition. Consequently, CFIUS employed its enhanced monitoring powers under the Foreign Investment Risk Review Modernization Act (FIRRMA). It conducted a retroactive review through its non-notified transaction investigation team and reversed the already-completed deal.