Select Committee on CCP says WFE makers fueled semi manufacturing in China

The Select Committee on China Chairman John Moolenaar and Ranking Member Raja Krishnamoorthi announced “alarming new information” revealing that companies in America and allied nations – including ASML (ASML) in the Netherlands, Tokyo Electron (TOELY) in Japan, and Applied Materials (AMAT), KLA Corp (KLAC), and Lam Research (LRCX) (LRCX in the United States – “fueled semiconductor manufacturing in China and made sizeable returns selling equipment to Chinese state-owned and military-linked companies.” Chairman Moolenaar said: “The Select Committee has revealed that companies in this investigation are large-scale producers of equipment that China is using to fuel its military ambitions. They are growing their profits at the expense of U.S. national security. We must not allow this critical equipment to be handed over to our foremost adversary, or America could lose the technology arms race.”