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U.S. Tech ‘Not for Sale’

Trump blocks Qualcomm takeover by Singapore-based Broadcom on fears the U.S. company might not remain a market leader under foreign control.

By David McLaughlin & Saleha Mohsin | Updated on March 13, 2018

With his swift rejection of Broadcom Ltd.’s hostile takeover of Qualcomm Inc., President Donald Trump sent a clear signal to overseas investors: Any deal that could give China an edge in critical technology will be swatted down in the name of national security.

Although Broadcom is based in Singapore, China loomed large over the U.S. government’s fears about a foreign takeover of chipmaker Qualcomm. That’s because Qualcomm is locked in a head-to-head race with China’s Huawei Technologies Co. over which company will dominate the development of next-generation wireless technology.

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