ASML CEO Believes US-China Trade Antagonism Will Outlast Trump By Reuters

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© Reuters. Peter Wennink, CEO of ASML, attends a press conference after fourth quarter earnings at Veldhoven

AMSTERDAM (Reuters) – ASML CEO Peter Wennink expects further antagonism between the United States and China over semiconductor technology, even as a new administration takes over in Washington, he told the Reuters Next conference on Thursday. The Netherlands-based tech giant has already been embroiled in the trade war between Washington and Beijing, with the suspension of sales of its latest machines, worth about $ 200 million each, to China due to pressure. of the United States government. Some industry watchers hoped the transition from President Donald Trump‘s administration to President-elect Joe Biden would ease tensions. But Wennink said he doesn’t expect a major change anytime soon due to rival efforts by the superpowers to control leading technology, including semiconductor systems produced by ASML. “That has a competitive space there and that creates this antagonism and that is what we have seen,” he said, referring to the US restrictions on trade with China. “I don’t think that’s going to change. To be honest, this goes to the heart of, I’d say the very core of industrial policy in both countries. It’s the semiconductors, it’s the technology that will create that base of value, so that’s not going to change and we’ll have to live with that. ” ASML is the world’s leading manufacturer of lithography machines, which use energy beams to map computer chip circuits. Its main customers are the chipmakers Taiwan Semiconductor Manufacturing Co Ltd, Samsung Electronics (OTC 🙂 Co Ltd and Intel Corp (NASDAQ :), which use its more advanced “EUV” or extreme ultraviolet systems. For the third quarter ended September 30, the company’s net sales increased to 3.96 billion euros ($ 4.82 billion), from 3 billion a year ago, ahead of analyst estimates of 3.7 billion euros. euros. Net profit rose to € 1,060 million from € 627 million. ($ 1 = € 0.8222) For more coverage of the Reuters Next conference, click here or http://www.reuters.com/business/reuters-next To watch Reuters Next live, visit https: // www.reutersevents.com/ events / next / register.php

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