Machinery and appliances made up almost 60 percent of EU imports from Taiwan last year. The biggest worry for European businesses would be the sudden cut to supplies of electronic chips, produced by the world’s biggest semiconductor company: Taiwan Semiconductor Manufacturing Co (TSMC). The company captures more than half of the outsourced semiconductor market and is rumored to have clients like Apple and Qualcomm.

In a sign of the importance the U.S. attaches to TSMC, Pelosi met with the company’s chairman Mark Liu during her visit.

The problem for Europe is that it has built up its dependency on Taiwanese chips over many years, but a Chinese attack could instantly wreck a vital supply line, with little or no warning.

So how can the EU protect itself against such a risk?