New York Times Editorial Board Says ‘Trump Was Right’ | NTK Network New York Times Editorial Board Says ‘Trump Was Right’

New York Times Editorial Board Says ‘Trump Was Right’

The Old Gray Lady, often a thorn in President Trump’s side, agreed with a major decision his administration made this week.

By NTK Staff | 03.15.2018 @12:00pm
New York Times Editorial Board Says ‘Trump Was Right’

It’s not every day that the liberal editorial board of The New York Times writes an piece with “Trump was right” in the headline, so make a note for the history books.

“Trump Was Right to Block a Merger,” the editorial’s headline read Thursday morning. What merger? Singapore-based chipmaker Broadcom announced in November it would move its headquarters back to the U.S. in an effort to launch a hostile takeover chipmaker Qualcomm, based in San Diego.

Qualcomm, a pioneer in developing 5G wireless technology, vigorously opposed the takeover, and last week the Committee on Foreign Investment in the United States (CFIUS) – an inter-agency group made up of representatives from 16 administrative departments – stepped in to review the proposed takeover.

CFIUS, which includes members of President Trump’s Treasury, State, Commerce, Defense, and Homeland Security Departments, issued its ruling on Tuesday: the proposed takeover could not go through due to national security concerns.

The New York Times editorial board summarizes the rationale like this:

The letter strongly hinted that those companies of interest are based in China. It also noted that Broadcom has reduced spending on research and development at the businesses it acquires, a practice that could make Qualcomm less innovative. That, in turn, would give Chinese businesses a leg up in the race to develop the technology for the next generation of cellphones, known as 5G, which is expected to provide faster internet access and generate billions of dollars in profits for the wireless industry in the coming years.

Interestingly, the liberal newspaper takes issue with the potential anti-trust issues that could have arisen from the largest tech company merger in history rather than the national security concerns raised by CFIUS.

But either way, the decision was a win for the Trump administration, and even The New York Times is willing to admit that.

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