The Dutch Confronted China. It Didn’t Go Well.
Seizing control of Chinese semiconductor maker Nexperia was a bold move for the Dutch government. It did so under US pressure, only to instantly backtrack as soon as the Trump administration changed its position.
Dutch economy minister Vincent Karremans negotiated with Wingtech about how Nexperia could become independent of its parent company. (Koen van Weel / ANP / AFP via Getty Images)
Seizing control of a Chinese-owned tech firm was a bold move for the Dutch government — straining the European Union’s relations with Beijing. Economy Minister Vincent Karremans shocked the business world in September by invoking never-before-used powers to take the reins at semiconductor firm Nexperia, a subsidiary of Chinese firm Wingtech.
At the time, his ministry warned of threats to “Dutch and European economic security” arising from Wingtech’s “shortcomings” in its governance of Nexperia, which is headquartered in the Dutch city of Nijmegen. The government wanted “to prevent a situation in which the goods produced by Nexperia (finished and semi-finished products) would become unavailable in an emergency.”
Yet, in a stunning U-turn this Wednesday, Karremans suspended the takeover. So what had changed?
This article is for subscribers only. Please login or subscribe to access our full archives and beautiful print and digital magazine starting at just $3 a month.