1144 GMT - European semiconductor manufacturers will be hit by direct tariffs, or by tariffs on equipment containing chips, JPMorgan analysts write in a note. "The large cap European semi companies don't have U.S. manufacturing and thus will face tariffs on product shipping into the U.S.," they say. As a result, semiconductor and semiconductor equipment companies' sales and earnings could be hit in the turbulent quarters ahead. ASM International has no U.S. manufacturing, but has disclosed that 23% of its 2024 procurement came from the U.S. Meanwhile, ASML Holding has some sub-assembly manufacturing in the U.S., but the majority of the final assembly of their tools occurs in the Netherlands, they say. Therefore, both companies would be exposed to tariffs, depending on the rules implemented. ASM International and ASML holding shares are down 4.7% and 4.9%, respectively. ( najat.kantouar@wsj.com)
(END) Dow Jones Newswires
April 03, 2025 07:45 ET (11:45 GMT)
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