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China Blocks Some Trade with Taiwan After Pelosi Visit

China suspended some trade with Taiwan in retaliation for hosting a visit with U.S. House Speaker Nancy Pelosi. China blocked imports of some fruits and fish from Taiwan, and exports of natural sand to the island, according to CNN.

"China is Taiwan's largest trading partner, with bilateral trade worth $273 billion last year, accounting for 33% of the island's total trade with the rest of the world, according to the Taiwanese government," the article reads. "Experts are also concerned about the impact escalating tensions between Taipei and Beijing may have on Taiwan's semiconductor industry."

China stopped short of banning semiconductor imports from Taiwan, which would further disrupt the already unstable supply chain. "Taiwan plays an outsized role in the chip industry for an island of 24.5 million people, accounting for more than half the global supply," reads an article from the Associated Press. "Chips are China's biggest import at more than $400 billion a year, ahead of crude oil." 

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Monday, 15 August 2022