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  • 5 months ago
Intel CEO Lip-Bu Tan will meet Trump at the White House Monday after the president called for his resignation over alleged ties to Chinese businesses, according to The Wall Street Journal. Tan is expected to explain his background, emphasize Intel’s role in U.S. national security, and propose government collaboration. The president has urged U.S. companies to absorb tariffs and favor conservative allies, shortly after exempting some tech firms from semiconductor tariffs in exchange for increased U.S. investment. A Malaysian-born American citizen, Tan is under scrutiny for his past leadership of Cadence Design Systems and his venture-capital firm’s investments in Chinese companies. Cadence recently agreed to plead guilty and pay over $140 million to settle Justice Department charges for selling chip-design products to a Chinese military university. Tan told employees he has lived in the U.S. for more than 40 years and always upheld legal and ethical standards.

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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Intel CEO Lip Bhutan will meet Trump in the White House one day after the president called
00:06for his resignation over alleged ties to Chinese businesses, that according to the Wall Street
00:10Journal. Tan is expected to explain his background, emphasize Intel's role in U.S.
00:14national security, and propose government collaboration. The president has urged U.S.
00:18companies to absorb tariffs and favor conservative allies shortly after exempting some tech firms
00:23from semiconductor tariffs in exchange for increased U.S. investment.
00:26A Malaysian-born American citizen, Tan is under scrutiny for his past leadership of Cadence
00:31Design Systems and his venture capital firm's investment in Chinese companies.
00:35Cadence recently agreed to plead guilty and pay over $140 million to settle Justice Department
00:40charges for selling chip design products to a Chinese military university.
00:44Tan told employees he has lived in the U.S. for more than 40 years and always upheld legal
00:49and ethical standards.
00:50For all things money, visit Benzinga.com.
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