China’s ban on exporting chip machines takes effect next week | Economy

The news agency reported that new Chinese export restrictions on ASML will take effect on June 30 bloomberg. According to these new rules, Veldhoven may provide fewer machines to the Chinese. The arrival of the export ban was already known, but the actual date was not yet.

In March, Foreign Trade Minister Liesje Schreinemacher announced that the Cabinet would further restrict the export of Dutch chip machines to China. The minister wrote in a letter at the time that the measures were necessary for “international security”. Letter to Parliament.

according to bloomberg The government succumbed to pressure from the United States. They want to keep new chip technology out of Chinese hands.

At the beginning of this year, Prime Minister Mark Rutte and Minister Wopke Hoekstra (Foreign Affairs) visited the United States. During their meeting with US President Joe Biden, they discussed the issue of ASML, among other things.

Ruti did not want to say exactly what they discussed. But a few months later, the government announced that an export ban of a number of types of chip machines was imminent.

ASML has previously said that the measures will have a minimal impact on both the 2023 financial outlook and the longer term. However, the company from Veldhoven suddenly finds itself in the middle of a conflict between the two largest economies in the world.