ASML’s China Sales Surged Despite Secret Dutch Deal With US
- US was seeking to limit shipments of ASML gear to China
- Beijing was the Dutch company’s biggest market last year
Photographer: Jasper Juinen/Bloomberg
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A secret agreement between the US and the Netherlands last year to limit ASML Holding NV’s deliveries to China didn’t stop a surge in sales of its sensitive chipmaking equipment.
The deal, which hasn’t been reported before, stumbled as ASML turned to Beijing to compensate for weak demand elsewhere. The Dutch government permitted more shipments, allowing China to stock up on the gear before new US-brokered export restrictions came into force this month.