July 21, 2024

Taylor Daily Press

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US is increasing pressure on ASML

US is increasing pressure on ASML

The US will urge the Netherlands to impose more restrictions on exports of chip manufacturing equipment from ASML to China. According to Reuters news agency, this was confirmed by sources on Thursday.

The Biden administration plans to pressure the Netherlands next week to stop servicing some ASML equipment in China, two people familiar with the matter said. It comes as the US is leaning on its allies in hopes of slowing growth in China’s technology sector.

US export policy chief Alan Esteves will meet the Dutch government and ASML officials in the Netherlands next Monday to discuss the maintenance contracts, the sources said.

Washington may try to include a list of Chinese chip factories not allowed to receive Dutch equipment as part of the discussion, one said.

The Commerce Ministry and ASML declined to comment and the Chinese Embassy in Washington did not immediately respond to a request for comment.

ASML shares lost their daily gains on Thursday and were lower an hour before the close.

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