Brian Fleming Comments on National Security and Technology Development in CNN Money
"Why the US Killed Broadcom's Giant Bid for Qualcomm"
Brian Fleming commented on the national security justification President Trump used to block Singapore-based Broadcom Ltd.'s acquisition of U.S.-based rival cellphone-chip maker Qualcomm Inc. The Treasury Department, based on a review of the deal by the Committee on Foreign Investment in the United States (CFIUS), argued that Broadcom has a history of acquiring companies and then cutting their spending on research and development, a move that would make the U.S. less competitive in developing 5G networks. "If there's not a trusted domestic supplier of [cellphone] chips, everyone will have to go to a Huawei, or [another] foreign supplier," said Fleming, who worked in the Justice Department's national security division in the Trump and Obama administrations.