International Trade

Secretary of Commerce Gina Raimondo had a sobering message for US makers of chipmaking equipment this week: you’ll need to wait as long as nine months before Washington can reach an accord with US allies over strict new rules aimed at restricting China’s access to certain technologies.

The US and Netherlands are expected to hold a new round of talks this month on restricting China’s access to advanced chip technologies, during which Washington will ramp up pressure on its ally to block ASML Holding NV from supplying the Asian nation.

US companies are acknowledging that reshoring -- once the subject of talk but no groundswell of action -- is accelerating, with at least one executive being “pumped up” about critical supply lines shifting away from nations such as China.