Chandra
Economist / Global / Export Controls

Export Controls

Export controls physically block what you can buy or sell — unlike tariffs (which raise the price) and sanctions (which freeze financial assets).

The Semiconductor War

What’s Controlled

The US, Netherlands, and Japan formed a coalition to restrict China’s access to advanced chip-making technology:

ItemWho makes itWhy it matters
EUV lithography machinesASML (Netherlands)Required for chips < 7nm. Physically massive (~200 tons), requires ASML service, has remote monitoring
DUV lithography (advanced models)ASMLOlder tech but can still make 7nm with multi-patterning — these are now partially restricted too
Chip design software (EDA)Cadence, Synopsys (US)Needed to design modern processors
Chemical etching equipmentTokyo Electron (Japan)Critical for multi-layer chip fabrication

How China Fights Back

Huawei Mate 60 Pro (2023): It contained a 7nm chip (Kirin 9000s) made by SMIC (China’s largest foundry). This proved China could make advanced chips without the best ASML machines.

The method — multi-patterning:

  • SMIC used older ASML machines (DUV, not banned at the time)
  • Each wafer is run through the machine 4x, overlapping exposures to create finer features
  • Like printing a high-res image on a low-res printer by printing 4 times and overlapping
Normal (TSMC)SMIC multi-patterning
Yield90%+~50-70%
Time per wafer1x4x
Cost per chipLowHigh

China’s Retaliation

China banned export of rare earth elements (EV motors, wind turbines, fighter jets, phone screens). China controls ~90% of global rare earth refining. Also restricted gallium and germanium (semiconductors, fiber optics).

The Asymmetry

US / AlliesChina
LeverageChip making tools (hard to replicate)Rare earth processing (hard to replicate)
Time horizonChina can’t build its own ASML EUV in < 10 yearsUS/Europe building alternative rare earth supply (5-7 years)
Mutual painChina’s AI/military chip development stallsUS EV production, military optics, fighter jets hit

Can China Get Around It?

Transshipment

Routing restricted goods through third countries (Malaysia, Singapore, Hong Kong). The US responded with foreign direct product rule — if a chip is made with US technology anywhere in the world, it’s controlled. ASML machines in Taiwan can’t be resold to China. TSMC can’t make chips for Huawei.

Reverse Engineering

China has reverse-engineered some older ASML models. But EUV machines require:

  • Mirrors so smooth a 1mm bump would be a mountain (atomic-level precision)
  • Vacuum chambers the size of a bus
  • A supply chain of 5000+ suppliers in Europe

Copying the design isn’t enough — the manufacturing ecosystem can’t be replicated quickly.

Recruiting Talent

ASML engineers being hired by Chinese companies has been reported. But ASML machines have:

  • Remote kill switches — if a machine moves to a banned customer, ASML can shut it down
  • Mandatory service contracts — the machines break without ASML technicians

Where China Stands Today

NodeChina can doDependency
28nm+ (mature)Yes, abundantNone
14nmYes, decent yieldNone
7nmYes (SMIC), low yield, expensiveDUV lithography (partially restricted)
5nmNoEUV lithography (fully blocked)
3nmNoEUV lithography (fully blocked)
2nmNoEUV lithography (fully blocked)
AI chips for militaryLimited — low yield, low volumeNeeds production at scale

The gap: China can make some advanced chips for phones (millions of units), but for data centers and military AI (hundreds of millions), they can’t produce efficiently enough. The bottleneck isn’t the science — it’s the tooling.