Taiwan says China economic ties make more sanctions unlikely

"We expect very little chance of China imposing stricter economic sanctions on Taiwanese businesses due to our highly reliant economic relations," said Tsai.

Export growth to China has been sluggish this year as Beijing contends with Covid-19 outbreaks and lockdowns. Even so, China and Hong Kong combined remain by far Taiwan's largest export market. Shipments totalled more than US$16 billion in July, compared with nearly US$7 billion in total exports to the US.

The import bans announced thus far"are manageable for overall trade", Adrienne Lui, an economist at Citigroup, wrote in a research note."But given the fluid geopolitical situation, there remain risks to other key export items to China" that enjoy no tariffs.Another main concern is whether a series of military drills surrounding Taiwan would have a significant impact on the shipping industry.

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