EU Coalition Proposed to Boost Chip Industry

Dutch Economy Minister Dirk Beljaarts has announced plans to form a 'coalition of the willing' within the EU to bolster domestic computer chip industries and enhance competitiveness against the U.S. and China. Speaking at a G7 summit in Rome, he emphasized collaboration among EU nations to establish production, assembly, and packaging facilities, highlighting the Netherlands' role as home to leading chip tool maker ASML. Despite not being a G7 member, the Netherlands' significant economic standing secured its participation in the meeting, where Beljaarts also discussed cooperation with U.S. Secretary of Commerce Gina Raimondo amidst anticipated export restrictions on semiconductor technologies to China. The initiative follows the departure of Thierry Breton, the former EU Commission industry chief and architect of the €43 billion EU Chips Act, aimed at increasing Europe's global chip market share to 20% by 2030. Beljaarts expressed the necessity of EU unity to gain leverage in the global market, underscoring the Netherlands' readiness to lead this initiative alongside Italy.