US Lawmakers Propose Crackdown on Chip Tool Sales to China

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Signage at the ASML Holding NV booth at the China International Import Expo (CIIE) in Shanghai.US lawmakers unveiled legislation that seeks to crack down on exports of chipmaking tools to China, especially from allies including the Netherlands and Japan, in a bipartisan effort to help Washington further constrain Beijing’s technology ambitions.The draft bill, introduced in the House on Thursday, would strengthen existing restrictions on semiconductor manufacturing equipment sales from firms like ASML Holding NV and Tokyo Electron Ltd. A companion version is expected to be released in the Senate later this month, according to people familiar with the matter.