President Donald Trump issued an executive order blocking HieFo Corp.'s acquisition of semiconductor-related assets from Emcore Corp., citing national security concerns. The order, released Friday, targets the Delaware-based company's $2.92 million acquisition of computer chips and wafer fabrication operations, marking the latest move by the administration to crack down on Chinese access to advanced semiconductor technologies.

Deal Structure and CFIUS Review

The transaction, completed in 2024, involved New Jersey-based Emcore Corp. selling its chips business and indium phosphide wafer fabrication operations. The Committee on Foreign Investment in the United States (CFIUS), a federal panel that reviews deals involving American companies on national security grounds, conducted a review of the transaction.

The Treasury Department stated that "CFIUS identified a national security risk arising from the transaction relating to potential access to Emcore's intellectual property, proprietary know-how, and expertise and to the potential diversion of supply of indium phosphide chips manufactured by the Emcore Digital Chips Business away from the United States."

Security Concerns and Chinese Control

Trump's executive order specifically notes that HieFo Corp., while Delaware-based, "was organized and is controlled by a Chinese citizen." The security concerns center around potential access to critical semiconductor technology and intellectual property. The order states that the deal "threatens to impair the national security of the United States."

The acquisition targeted assets comprising "the digital chips and related wafer design, fabrication, and processing businesses" of Emcore Corp., technology with applications in aerospace, defense, and artificial intelligence solutions.

Divestment Requirements

HieFo Corp. has been directed to divest the acquired assets within 180 days unless CFIUS grants additional time. The 180-day timeline reflects the administration's urgency in addressing perceived threats to US security interests in the semiconductor sector. The company has not yet responded to requests for comment regarding the divestment order.

Industry Implications

The executive order demonstrates how deals completed under previous administrations can face retroactive review when national security concerns are identified. The focus on indium phosphide chip technology highlights the strategic importance of specialized semiconductor capabilities in military and civilian infrastructure, particularly given the ongoing US-China technology competition.

Russian President Vladimir Putin and US President Donald Trump engaged in extensive direct communication throughout 2025, conducting nine phone conversations that totaled more than 12 hours according to open data cited by Russia's state-run Sputnik. The sustained pattern of communication occurred amid continued strain in US-Russia relations, demonstrating regular high-level diplomatic contact between the two nations.

Communication Pattern and Frequency

The phone calls spanned nearly the entire year, from February through December, indicating sustained engagement rather than isolated diplomatic contact. The conversations varied significantly in duration, ranging from brief 40-minute exchanges to extended discussions lasting more than two hours.

The longest calls occurred on May 19 and October 16, with each lasting approximately two and a half hours. Other extended conversations included more than 90 minutes on March 18 and about 90 minutes on February 12.

Recent December Communication

The most recent call between the two leaders took place on December 28, strategically positioned ahead of Trump's scheduled meeting with Ukrainian President Volodymyr Zelensky. Trump posted on Truth Social following the conversation, stating: "I just had a good and very productive telephone call with President Putin."

Putin's foreign affairs adviser Yuri Ushakov provided additional details about the December 28 call, confirming that it was initiated by the US side and lasted more than an hour. Ushakov characterized the conversation as "friendly, benevolent, and businesslike," and indicated that both leaders agreed to speak again soon after Trump's meeting with Zelensky.

Official Communications and Topics

Neither the White House nor the Kremlin released comprehensive details of the discussions throughout the year. Available official readouts cited broad topics including:

• Strategic stability
• Global security matters
• Bilateral relations

The limited public information suggests the conversations addressed fundamental diplomatic and security issues, though specific policy details or agreements were not disclosed by either government.

Diplomatic Context

The frequency and total duration of the calls represent a significant level of direct leader-to-leader communication during Trump's second term. The sustained engagement pattern, with conversations occurring across multiple months, indicates ongoing diplomatic efforts despite broader tensions in US-Russia relations. The strategic timing of the final December call, positioned before Trump's meeting with the Ukrainian president, suggests coordination on regional security matters.