The Dutch cabinet is seriously concerned about the future of ASML due to the trade war between the United States and China. With a market value of €270 billion, the company is crucial to the Dutch economy and is at risk of being dragged into the economic conflict between the two world powers. The ministers involved are considering possible scenarios.
This is according to sources of Dutch newspaper De Telegraaf. In The Hague, there are fears that the US will exert further pressure to restrict ASML’s export opportunities to China. Although the trade war between America and China is currently in a pause, US President Donald Trump’s unpredictability is causing ongoing fear. The cabinet is considering the possibility of a sudden escalation of the conflict.
Ministers Dirk Beljaarts (Economic Affairs), Reinette Klever (Foreign Trade), and Caspar Veldkamp (Foreign Affairs) will meet on Friday to discuss the situation. Prime Minister Dick Schoof will be absent and will be replaced by a civil servant from General Affairs. According to sources, periodic consultations are surrounded by more concern than usual due to geopolitical tensions.
ASML as a strategic power tool
Although, according to insiders, there are no concrete signs that the Americans are working on specific new measures, Trump’s unpredictability is causing concern. It was recently leaked that President Trump’s administration is considering using chip exports as a tool in trade negotiations with China.
The Hague fears that the US wants to use ASML as a ‘weapon’ in the trade war. Further export restrictions would be intended to keep China technologically behind, mainly to prevent the country from acquiring advanced chips for defense applications. This strategy was also pursued under former President Biden.