Why the Netherlands Must Hold the Line on ASML

27 Oct 2026 01:46 PM

If the Netherlands agrees to US export controls, it must be mindful of its vulnerability to retaliatory measures from Beijing.

Over recent decades, Dutch technology giant ASML has become a vital node in the global economy. The company is the market leader for the photolithography systems used for semiconductor manufacturing and the world’s only manufacturer of the much-coveted extreme ultraviolet (EUV) machines. Without ASML, industries depending on advanced chips, such as AI, telecommunications and aerospace, would be severely hindered. The firm is expanding its manufacturing capacity but is still expected to struggle to meet the ever-growing demand for its products.

This technological relevance has also placed ASML at the centre of the ongoing US–China tech race. After years of American pressure, the Netherlands has repeatedly restricted exports of semiconductor manufacturing equipment to China. However, the current Dutch government has recently pushed back against the pending US MATCH Act designed to limit ASML’s China exports even further, with Dutch Prime Minister Rob Jetten raising concerns directly with US President Donald Trump.

Click here for the full press release