ASML is not about to voluntarily leave China, where it has sold a thousand chip-making tools over the decades.

The trade war has led to a 62% drop in tech electronics imports from China to the US since 2018.

Washington’s ban on hi-tech exports to China marks a huge gambit for economic supremacy for the next decades.

Step-by-step progress with China possible, says former US trade chief

China criticized expanded U.S. restrictions on its access to semiconductor technology, saying they’ll harm supply chains and the world economy.

The Biden administration on Friday published a sweeping set of export controls, including a measure to cut China off from certain semiconductor chips made anywhere in the world with U.S. equipment.

Last December, South Korean semiconductor company Magnachip reluctantly announced the demise of its proposed $1.4bn merger with Chinese private equity firm Wise Road Capital.

With the clash of the two superpowers, the economic implications of this friction could be much worse than the Russia-Ukraine war, according to billionaire investor Ray Dalio.

Economist Zhong Zhengsheng says the US might use tariffs in concert with the IPEF economic framework to restrict China’s economy

As President Joe Biden debates whether to lift Trump-era tariffs on Chinese imports, his cabinet is split over a politically fraught issue that could influence the November congressional midterm elections.