February 1, 2023

Taylor Daily Press

Complete News World

Bloomberg: The Netherlands may soon agree to US export restrictions against China

Both the Netherlands and Japan will soon join China-targeted export restrictions on chip manufacturing machinery. An agreement on the matter is expected by the end of January.

sources told the news agency Bloomberg. In October, the United States (US) announced measures against exports of chip manufacturing machinery to China. American companies are no longer allowed to export machinery to the Asian country.

The Netherlands and Japan are reluctant

The US government wants the Netherlands and Japan to join. Prime Minister Mark Rutte and Foreign Minister Wopke Hoekstra recently discussed the matter with US President Joe Biden. Rutte later insisted that the Netherlands was not just ‘signing the cross’. The Japanese government is also reluctant.

However, Bloomberg sources now report that the Netherlands, Japan and the US have reached an agreement on the matter. The countries are expected to present an agreement by the end of January. Speaking at the World Economic Forum in Davos, Rutte said he was still ‘reasonably confident’ the deal would go through. Akira Amari, a member of Japan’s House of Representatives, has called export controls necessary but wants to fine-tune them to protect the stability of the global economy.

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