ASML CEO calls out US export curbs as “economically motivated”

US efforts to restrict Western semiconductor-related exports to China have become more “economically motivated” over time, ASML CEO Christophe Fouquet said at the Citi 2024 Global TMT Conference on Wednesday (via Reuters). “I think to make the case that this is about national security is getting harder and harder,” Fouquet asserted. He hopes mounting push-back from US allies will eventually result in an “equilibrium” that would bring stability to the industry. Dutch Prime Minister Dick Schoof recently said that he would weigh ASML’s interests against the US push for expanding curbs on ASML’s servicing operations in Chinese fabs.