Home Economy News Netherlands in talks with U.S. on China chip policy – Dutch trade minister

Netherlands in talks with U.S. on China chip policy – Dutch trade minister


Netherlands in talks with U.S. on China chip policy – Dutch trade minister By Reuters

Breaking News


Economy 10 minutes ago (Nov 25, 2022 06:20AM ET)

AMSTERDAM (Reuters) – Dutch trade minister Liesje Schreinemacher said on Friday the Netherlands is in talks with the U.S. government about new export restrictions for semiconductor equipment to China.

Under pressure from the U.S., the Dutch government has since 2018 not allowed the country’s largest company, semiconductor equipment maker ASML Holdings NV, licenses to ship its most advanced machines to China because they are considered “dual use” equipment with potential military applications.

New U.S. export restrictions on chip equipment announced in October reach beyond currently agreed international definitions of what constitutes dual-use equipment.

“Well we are having talks with the U.S., obviously they have announced their unilateral measures,” Schreinemacher told reporters in Brussels.

“I cannot really comment on what would be acceptable for the Netherlands. Obviously we are weighing our own interests. Our national security interest is of the utmost importance.”

While ASML machines are made in Europe with few U.S. parts, U.S. Commerce Secretary Gina Raimondo on Nov. 3 said she expects allied countries including the Netherlands to follow U.S. policy.

“We do share the concerns that they (the U.S. government) have when it comes to China, when it comes to security,” Schreinemacher said.

“Already our companies are being harmed by that (previous) export restriction, but I believe for the right reasons, as I said before, because of national security interests.”

ASML had more than 2 billion euros ($2.08 billion) of sales to China in 2021, or about 16% of its total. On Nov. 11, CEO Peter Wennink downplayed the impact of a potential complete export ban, saying it would not impact ASML growth through 2030 if it happened.

At the G20 conference in Bali, Chinese President Xi Jinping called on Dutch Prime Minister Mark Rutte to resist “the politicisation of economic and trade issues.”

($1 = 0.9600 euros)

Netherlands in talks with U.S. on China chip policy – Dutch trade minister

Pause in Polish interest rate hikes will continue, says c.banker DabrowskiBy Reuters – Nov 25, 2022

WARSAW (Reuters) – The current level of Polish interest rates is having a positive impact on the economy and the Monetary Policy Council’s (MPC) pause in policy tightening will…

Japan proposes expanding tax-free investment scheme for saversBy Reuters – Nov 25, 2022

By Tetsushi Kajimoto TOKYO (Reuters) – Japanese government on Friday called for doubling a tax-free stock investment programme for households, to encourage savers to put more…

Marketmind: Gloomy enough?By Reuters – Nov 25, 2022

A look at the day ahead in U.S. and global markets from Mike Dolan. As Americans digest turkey feasts and head to the shops, they may also give thanks that the economy looks…

Our Apps

Terms And Conditions
Privacy Policy
Risk Warning

(C) 2007-2022 Fusion Media Limited. All Rights Reserved.

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

Related News