President Donald Trump on Monday said he met with Intel $INTC CEO Lip-Bu Tan at the White House alongside senior administration officials. He scaled back his attacks only four days after he'd pressed for Tan's removal from the company.
The president called the meeting with Lip-Bu Tan an "interesting one" — and suggested there would be more
Lip-Bu Tan, Chief Executive Officer of Intel appears at an event organized by the company. (Photo by Andrej Sokolow/Picture Alliance via Getty Images)
President Donald Trump on Monday said he met with Intel $INTC CEO Lip-Bu Tan at the White House alongside senior administration officials. He scaled back his attacks only four days after he'd pressed for Tan's removal from the company.
The Wall Street Journal reported on Sunday that Tan would meet with Trump to detail his background, after the president aired concerns about his past business ties with China. A day later, Trump met Tan with Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick. The president complimented his professional success.
"The meeting was a very interesting one," Trump wrote in a Truth Social post. "His success and rise is an amazing story. Mr. Tan and my Cabinet members are going to spend time together, and bring suggestions to me during the next week."
An Intel spokesperson later confirmed the meeting. "Mr. Tan had the honor of meeting with President Trump for a candid and constructive discussion on Intel’s commitment to strengthening U.S. technology and manufacturing leadership," the spokesperson said. "We appreciate the President’s strong leadership to advance these critical priorities and look forward to working closely with him and his Administration as we restore this great American company."
Intel shares closed about 4% higher on Monday.
Last week, Trump called Tan "highly CONFLICTED" in a social media post as Republican lawmakers stepped up their scrutiny into the Intel chief's past roles dealing with Chinese companies. It was the latest attempt by Trump to leave his stamp on the behavior of publicly-traded, U.S. companies that might step out of line from his goals.
Cadence $CDNS Design, a software company Tan oversaw for 12 years, pleaded guilty for unlawfully selling products to a Chinese research institute with close ties to the Chinese military. It landed a $140 million settlement in July with the Justice Department to resolve the charges. Tan wasn't singled out in the federal government's indictment.
After Trump's broadside, Tan dug in and defended his professional affairs.
"Over 40+ years in the industry, I’ve built relationships around the world and across our diverse ecosystem – and I have always operated within the highest legal and ethical standards," Tan wrote Friday in a note to employees. "My reputation has been built on trust – on doing what I say I’ll do, and doing it the right way. This is the same way I am leading Intel."
Tan added that Intel is "engaging with the Administration to address the matters that have been raised and ensure they have the facts."
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