The US looks to kill Chinese chipmaking ambitions with ASML sales ban

Short-term thinking. That solution will last only as long as China remains behind ASML in development.

ASML can't throw anywhere near as much cash into R&D as China can. Within a decade, or maybe a whole lot less, China will leave ASML in the dust.

A secondary problem for ASML is that it misses out on the Chinese market in this coming decade, further reducing its income and therefore its R&D budget. Because ASML won't be able to compete, the whole Western semiconductor industry will also be unable to compete, and it will fall further and further behind the Chinese semiconductor industry.

As with the Western industries for cars, textiles, paper, machine-tools, clothing, electronics, etc, etc, etc the Western semiconductor industry will also shrivel up and blow away.

As I said above: Short-Term thinking. A dumb idea.