During a visit to the White House in 2019, Prime Minister of the Netherlands Mark Rutte was handed an intelligence report by one of President Trump’s national security advisors. The security document laid out possible consequences of China acquiring the technology of ASML, an important Dutch semiconductor equipment manufacturer. The Trump administration hoped to convince the Dutch government to block shipment of one of ASML’s most advanced chip-producing machines to China’s Semiconductor Manufacturing International Corporation (SMIC). They got what they wanted: the Dutch government did not renew the export licence that ASML required for the shipment.1 The event is illustrative of how the Dutch semiconductor industry has been drawn into the technological rivalry between the United States and China.