ASML BACKS EU TECH PUSH BUT WARNS ON STATE CONTROL

Fouquet welcomed most proposals from the EU Commission announced this week, signaling alignment with Europe's push toward technological independence. However, the chip equipment manufacturer chief cautioned against direct state involvement in managing strategic tech initiatives. The tension reflects a broader challenge facing EU policymakers: balancing the need for coordinated industrial strategy with concerns that heavy-handed government control could undermine innovation and competitiveness. ASML, a critical player in semiconductor manufacturing, holds significant influence in shaping how European tech policy evolves. The company manufactures extreme ultraviolet lithography machines essential for advanced chip production. Its position makes its stance on EU tech sovereignty measures particularly consequential for European industrial strategy going forward.