📊Executive Summary

The ongoing US-China trade war is expected to disrupt the global semiconductor supply chain significantly. In retaliation to China's export curbs on rare-earth minerals, the US has imposed 100% tariffs and restrictions on software sales to China. This escalation threatens to stall semiconductor production, particularly impacting companies like ASML, which manufactures advanced semiconductor machinery. The new Chinese regulations require overseas firms to obtain licenses for shipping materials containing rare earths, which could lead to delays and increased costs in semiconductor manufacturing. Companies are now assessing their exposure to these materials and the potential impact on their supply chains....