[Someone]

> The US can probably consider most-all ARM IP to be dual use technology and immediately deny use of it.

The US (certainly the current US) can do that, but (https://en.wikipedia.org/wiki/Arm_Holdings):

“Arm Holdings plc (formerly an acronym for Advanced RISC Machines and originally Acorn RISC Machine) is a Japanese-owned British semiconductor and software design company based in Cambridge, England”

[6SixTy]

There are still ARM offices in the US in which their work, IP, etc would be subject to export restrictions.

[boredatoms]

ARM in stock listed in New York, it cant avoid US assertions

[matt-p]

So what, there's nothing done in America that can't be brought back to Cambridge or London just as easily as we offshored it.

If Europe is making a serious investment then it has more than enough power to say "you'll get the contract if you divest of X,Y,Z"