(Bloomberg) — France and the Netherlands are seeking to clinch a technology agreement that would pave the way for closer cooperation on semiconductors, quantum technologies and light processing.
(Bloomberg) — France and the Netherlands are seeking to clinch a technology agreement that would pave the way for closer cooperation on semiconductors, quantum technologies and light processing.
The deal is expected to be signed next week when French President Emmanuel Macron visits Dutch Prime Minister Mark Rutte in the Hague, according to people familiar with the plans who spoke on the condition of anonymity.Â
Both the European Union and the US are seeking to reduce their reliance on China, particularly when it comes to trade relationships and critical technologies. Some European countries have followed American steps in limiting semiconductor exports to the Asian country.
Last month the Netherlands, home to ASML Holding NV, announced plans to clamp down on China’s access to critical semiconductor technology. The move came amid pressure from Washington to help forge a global blockage to stifle Beijing’s rise in the chip-making sector.
A spokesperson from the Dutch trade ministry confirmed that an innovation and growth pact would be signed by French and Dutch industry officials. A French official confirmed the plan to sign a deal on technological cooperation in a bid to boost Europe’s sovereignty.
The EU has also taken a tougher stance when it comes to trade, agreeing on a new set of powers that will allow the bloc to strike back at third countries that use trade and economic restrictions to coerce member states.
The new instrument will allow the EU to employ punitive measures such as export controls and increased duties when a country uses trade tools to try to affect EU policy.Â
But the EU and many of its member states, including France, are clear that they don’t want to decouple from China, which is a major trade partner.Â
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