The world's only advanced chipmaking tool company is caught between Washington and Beijing
One Dutch company's export licenses shape what chips end up in your next phone.
ASML — the Dutch company that holds a near-total monopoly on the extreme ultraviolet (EUV) lithography machines required to make the most advanced computer chips — is facing tightening pressure from both sides of the US-China tech rivalry. ASML doesn't ship its most advanced EUV machines to China at all, following years of export restrictions, though China still accounted for roughly 20% of ASML's 2026 net sales. In April 2026, a bipartisan group of US lawmakers introduced the MATCH Act, aimed at cutting China off from additional chipmaking tools, specifically naming Chinese chipmakers including SMIC, ChangXin Memory, Yangtze Memory, Hua Hong, and Huawei. Separately, US officials have questioned ASML executives over claims that one of its EUV systems may have reached China in violation of export controls — an allegation ASML disputes.
How could this affect you
Traced by who's actually in the path of this — not everyone is.
Direct
If you buy phones, laptops, or anything with an advanced chip
ASML makes the machines nearly every advanced chipmaker depends on — disruption ripples into chip production broadly.
Direct
If you invest in tech or semiconductor stocks
ASML stock has dropped 5-6% in single sessions purely on export-restriction news.
Possible
If you follow the US-China tech rivalry
Dutch cooperation is essential for US restrictions to actually work — a rare single-company chokepoint.
Possible
If you work in or near chip manufacturing
China is attempting to build competing lithography tools domestically in response.
Sources
Every claim here traces back to reporting you can read yourself.
