ASML CEO sets heart on more assertive EU

ASML CEO Christophe Fouquet fosters hope that the Dutch government and the European Union will start pushing back successfully against US export restrictions. Speaking at the Bloomberg Technology Summit in London on Tuesday, Fouquet said he welcomes “a more rational discussion” about the curbs, echoing previous remarks that these have morphed from national-security related to more economically motivated. While he expects the US to continue to apply pressure, he also sees European authorities increasingly weighing their own interests. “I like to think that they’ll do what’s right for them,” Fouquet said.

Currently, ASML is barred from selling EUV scanners to Chinese customers, while the most advanced DUV gear can’t be sold to certain Chinese fabs. Partly because of these restrictions, the Chinese semiconductor industry has been focusing on mature technology nodes. This, in turn, has stoked fears of Chinese chips flooding global markets, potentially leading to even more limitations on lithography system exports.

With respect to ASML expanding operations abroad, a hotly debated topic earlier this year that was put to rest following a major support operation from Dutch local and national governments, Fouquet indicated that his firm has absolutely no plans to do so anymore. In fact, the geopolitical situation “gives us even more reason to stay in the Netherlands” to build relations with policymakers who could help protect ASML’s interests. Potential immigration restrictions remain a concern for the company, however.