>It'd be ironic if Europe ended up banning ASML (a Dutch company) from shipping to US instead!

ASML's Dutch EUV machines depend on importing US made EUV light sources from California to build them, and depends on sales of their machines to the US to stay afloat since they're not exactly flying off the shelves domestically.

So maybe the EU is not that stupid and suicidal to cripple their economy further by cutting off one of their biggest pay-piggies for no reason.

In fact, as an anecdote to your hypothetically scenario, the US is the one with the most leverage since if they want, they can ban the export of EUV light sources to ASML and sell them instead to Canon and Nikon, sinking ASML and propping up Japan's semi industry instead, if relations sour and they see Japan as a warmer ally than the EU. Hypothetical.