ASML Holding NV (ASML.AS) said on Saturday it understood progress had been made towards an agreement among several governments on new restrictions on semiconductor manufacturing equipment exports to China.

ASML, a key supplier to chipmakers, has been restricted from selling its most advanced tools to China since 2019.

Tensions between the United States and China over semiconductors have steadily worsened since then, prompting Washington in October to impose export restrictions on its own chip manufacturing equipment companies.

“It is our understanding that steps have been made towards an agreement between governments which, to our understanding, will be focused on advanced chip manufacturing technology, including but not limited to advanced lithography tools,” ASML said.

The Dutch company added that the measures were not expected to have a material impact on its 2023 financial forecasts.

“Before it will come into effect it has to be detailed out and implemented into legislation which will take time,” the company said.

Its statement follows a Bloomberg report on Friday that said the United States, Japan and the Netherlands had reached an agreement following months of talks.