Ex-ASML CEO: Trump’s isolationism could boost Europe’s growth
▼ Summary
– ASML’s former CEO Peter Wennink sees Trump’s potential reelection as an opportunity for Europe to thrive by embracing collaboration amid US isolationism.
– Wennink urges Europe to replicate ASML’s success through open ecosystems, as its EUV lithography machines dominate advanced chip production globally.
– European investors and governments are reassessing US dependencies due to Trump’s unpredictability, with some repatriating capital to Europe.
– Arm and ASML’s success is attributed to collaborative ecosystems, with Arm sharing IP widely and ASML leveraging partnerships across industries.
– Wennink believes Europe’s intrinsic collaborative mentality positions it well to capitalize on shifting global dynamics under Trump’s policies.
Europe could experience a significant economic boost if Donald Trump wins reelection, according to ASML’s former CEO Peter Wennink. The tech leader argues that America’s shift toward isolationism creates a prime opportunity for European businesses to strengthen collaboration and expand their global influence.
Speaking at the TNW Conference, Wennink highlighted how Trump’s policies, particularly trade wars and weakened transatlantic ties, have already pushed European investors and companies to rethink their strategies. “Mr. Trump could be the best thing that ever happened to Europe,” he remarked, emphasizing that reliance on unpredictable U.S. leadership has forced a long-overdue wake-up call.
During his tenure, Wennink transformed ASML into Europe’s most valuable tech firm, with a market cap exceeding €250 billion. The company’s dominance in producing cutting-edge chip manufacturing machines stems from its open ecosystem approach, relying on partnerships with suppliers, universities, and research institutions. He believes Europe must now replicate this model to compete globally.
Recent trends suggest a shift is underway. Dutch pension giant APG, managing the country’s largest fund, recently announced plans to redirect €100 billion in capital toward European investments, citing U.S. policy risks under Trump as a key factor. “I’ve never heard pension funds and government officials talk like this before,” Wennink noted, underscoring the growing momentum for regional self-reliance.
Industry leaders like Young Sohn, a board member at Arm and Walden Catalyst Ventures partner, agree that Europe’s success hinges on collaboration. Arm, a British semiconductor firm, became a global powerhouse by licensing its designs widely, fostering an ecosystem where innovation thrives. “They decided to be a peacemaker,” Sohn explained, pointing to Arm’s strategy of sharing intellectual property to accelerate industry-wide progress.
Wennink sees this collaborative mindset as inherently European. “There’s an intrinsic desire to work together here,” he said, stressing that fair risk-sharing and mutual rewards are critical for long-term success. While realigning investments will take years, he remains optimistic that Europe can leverage its strengths, especially as U.S. policies create new uncertainties.
The question now is whether European businesses can act fast enough. With tech giants like ASML and Arm leading the way, the continent has a blueprint for growth, but execution will determine if it can truly capitalize on this moment.
(Source: The Next Web)
