U.S. President Donald Trump on Thursday demanded the immediate resignation of new Intel CEO Lip-Bu Tan, calling him "highly conflicted" due to his ties to Chinese firms and raising doubts about plans to turn around the struggling American chip icon.

Intel shares fell over 3% Thursday after President Trump called on the company’s chief executive to resign because of his past ties to China, the latest challenge to hit the troubled chip maker.“The CEO of INTEL is highly CONFLICTED and must resign,

President Donald Trump took to Truth Social on Thursday, demanding that Intel CEO Lip-Bu Tan resign immediately due to his alleged ties to the Chinese military.