In February 2020, the U.S.-China trade war ratcheted up again as more restrictions were added on Wassenaar Arrangement. Reportedly, the new rules aim to prevent China from receiving ASML’s EUV lithography machine, a crucial device for small scale chip production. Lead by the U.S., these updates not only hold back China’s development of fast and economic chip, but also undermines ASML since China accounts for almost 20% of its sale. JW Insights talked to Jos Versteeg, a senior equity analyst in Netherlands, about future relationship between China and ASML under America’s impacts. Mr. Versteeg is a Senior Equity Research Analyst at InsingerGilissen Bankiers in Netherlands. And he has borad knowledge of Dutch and European equity markets, as well as macro economy.