The FT reports that European technology executives + diplomats are accusing the US of using its sanction regime to keep them out of the Chinese market while offering exemptions for US companies.
US sanctions has created a “US First” policy to protect US business at the expense of EU business.
EU companies affected include Swiss company STMicroelectronics, German chipmaker Infineon, and Dutch company ASML.
This month 17 EU countries announced an initiative on processors and semiconductor technologies to make themselves less dependent on US technology and make it easier to sell EU goods to China.
The dilemma is illustrated by EU car industry which relies on US technology for its smart/autonomous cars but wants to sell more to China – the world’s biggest market for car manufacturing and sales.
Politicians pontificate but Businessmen have no interest in “de-coupling”.