Fouquet noted that the geopolitical landscape suggests the U.S. will continue to advocate for further restrictions on technology sales to China, raising concerns about the implications for the Netherlands and Europe.

Notably, China has never been able to purchase ASML's most advanced machines that utilize extreme ultraviolet (EUV) technology, essential for producing the latest chips.

Fouquet predicts ongoing pressure from the U.S. regarding export restrictions to China, regardless of the outcome of the upcoming U.S. presidential election.

Despite these challenges, China has remained ASML's largest market for the past five quarters, contributing nearly half of the company's revenue in the second quarter of 2024.

Fouquet emphasized that most of ASML's business in China focuses on mainstream semiconductors, which differ significantly from cutting-edge AI technologies.

Christophe Fouquet, CEO of ASML, a leading Dutch chipmaking equipment company, anticipates increased pressure from the United States on its allies to limit semiconductor technology sales to China due to impending U.S. restrictions on investments in artificial intelligence.

He also mentioned that existing U.S. restrictions have set back China's advanced technology development by approximately 10 to 15 years.

Ongoing debates in the Netherlands and Europe are focused on the nature of further restrictions and their implications for national security and trade policy.

The U.S. government aims to curb China's growth in the semiconductor sector through multiple rounds of export controls targeting advanced AI chips and chip-making equipment.

An announcement regarding the finalization of these restrictions on outbound investments in sensitive technologies, including AI and semiconductors, is expected from the U.S. government in the coming weeks.

Looking ahead, Fouquet expressed optimism for ASML's growth in 2026, despite the caution regarding 2025's performance.

The CEO also warned that while sales in 2025 are expected to grow, the pace will be slower than previously anticipated due to weak electronics markets, except for AI-related chips.