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ASML CEO Says Trying to Control Chip Sales to China Won’t Work

  • CEO says China will develop its chip equipment eventually
  • Company cannot sell advanced chip equipment to Chinese firms
Semiconductor Production at Globalfoundries Europe Plant
Photographer: Liesa Johannssen-Koppitz/Bloomberg

Export controls against China will not only fail to halt its technological progress but also hurt the U.S. economy, ASML Holding NV Chief Executive Officer Peter Wennink said, after trade tensions between Washington and Beijing led to restrictions on the sale of the Dutch company’s advanced chip equipment to Chinese firms.

“I believe that export controls are not the right way to manage your economic risks if you have determined that there is an economic risk,” Wennink said during an online industry event on Wednesday, arguing that if “you close China from access to technology, that will also cost non-Chinese economies a lot of jobs and a lot of income.”