**ASML Navigates Political Turbulence in Tech Trade Wars**

In the heart of the Netherlands, ASML, a leading manufacturer of sophisticated lithography machines, finds itself in the epicenter of a burgeoning tech trade war. Christophe Fouquet, the French chief executive of the $300 billion Dutch company, faces a series of geopolitical challenges that could disrupt the production and distribution of its cutting-edge semiconductor technology.

Recently, ASML, which produces lithography machines essential for creating advanced microchips, encountered potential disruptions from global trade policies. Last month, President Trump's announcement of 50 percent tariffs on European goods, later paused, threatened to increase costs for ASML. Concurrently, Dutch political turmoil and diplomatic discussions in Beijing regarding export restrictions compounded these uncertainties.

ASML’s machines, vital for manufacturing the most advanced chips, are coveted by global powers like China and the U.S. These tools, costing up to $400 million and as large as train cars, have made ASML a critical piece in the geopolitical puzzle. "A large part of it is still out of our hands," said Fouquet, highlighting the growing complexity of managing international trade relations that impact the company’s operations.

Facing global trade tensions head-on, Fouquet has begun speaking out more openly, emphasizing the risk that government policies pose to global supply chains and the development of AI and other technologies. ASML’s reliance on a globally integrated supply chain exemplifies the broad impact of such policies. Fouquet noted that China is already working on developing its lithography tools, suggesting that efforts to hinder its progress may only intensify its resolve.

Executives like Jensen Huang of Nvidia, a major producer of AI chips, echo Fouquet’s concerns. Huang criticized restrictive trade policies, asserting that they inadvertently strengthen Chinese competitors while weakening U.S. positions globally.

ASML has ramped up its lobbying efforts in key political centers—Washington, Brussels, and The Hague—to protect its interests. Fouquet believes that the European Union and the Netherlands should play a more active role in shielding the semiconductor industry from the fallout of U.S.-China trade disputes.

The roots of ASML’s technological leadership date back to the 1980s, with the development of lithography machines crucial for chip creation. These operations now involve intricate processes, such as using extreme ultraviolet light and advanced optics, forming what some experts call "the most complex machine humans have ever created."

As ASML's business booms, driven by the integration of chips into everyday technology and the rise of AI applications, the company’s revenue soared to €28.3 billion last year. Looking ahead, ASML projects sales to reach between €44 billion and €60 billion by 2030. However, the shadow of geopolitical strife looms large, with trade policies potentially stifling innovation and driving up costs.

In response to U.S. tariffs and export restrictions, Fouquet argues that such measures should not hinder ASML's ability to contribute to domestic chip manufacturing initiatives. He reflects on his extensive experience navigating geopolitical tensions since joining ASML in 2008—a path that included significant milestones such as the U.S. lobbying efforts in 2019 to block exports to China.

Despite these hurdles, ASML’s expansion continues, both in its physical footprint in Veldhoven and its technological advancements. Fouquet remains optimistic, envisioning a thriving future driven by the AI revolution, even as he acknowledges the persistent geopolitical entanglements that come with the territory. For ASML, the semiconductor industry is not just about technology—it's a strategic domain shaped by the complexities of global politics.