The chief executive of Dutch semiconductor company ASML, Europe’s largest manufacturer of advanced lithography machines, has called on EU leaders to have a more “sophisticated” discussion about US imposed export controls on chip machines to China.
“If you look at the geopolitical landscape, I think it’s clear that the US will continue to apply pressure on their allies for more restrictions,” Christophe Fouquet who took over the helm this year said at an event organised by Bloomberg in London on Tuesday (22 October).
“There may be good reasons to restrict access,” he said. “[But] what restriction makes sense regarding national security? And when does it stop?”
In 2019, pressured by Washington, the Dutch government prompted ASML, Europe’s most valuable tech firm until last week, to stop exporting its high-end extreme ultraviolet lithography machines (EUV) to China.
In September, the new Dutch government introduced further restrictions on the far less advanced deep ultraviolet (DUV) machines and limits on ASML’s ability to repair and maintain semiconductor equipment it has already sold to China.
Officially, this decision was made for national security reasons, but it has evolved into a much broader question of “economic competition between the US and China,” said Fouquet.
And the escalating export controls have now become a major drag on the company’s prospects. Last week, ASML suffered a massive stock market rout after it published lower-than-expected sales figures for next year.
Wester van Gaal