Trump demands resignation of Intel CEO over China ties
17 days ago
- #US-China relations
- #semiconductors
- #corporate governance
- President Trump demands Intel CEO Lip-Bu Tan resign over alleged ties to China.
- Senator Tom Cotton raises concerns about Tan's connections to Chinese firms linked to the PLA.
- Trump threatens 100% tariffs on imported chips unless production moves to the U.S.
- Intel's rivals invest in U.S. infrastructure to avoid tariffs.
- Intel's stock drops amid management turmoil and competitive struggles.
- Previous CEO Patrick Gelsinger was ousted after Intel lagged in AI.
- Intel received an $8 billion CHIPS Act grant, reduced due to concerns over delivery.