The Sources® said the deliberations in Washington and Taipei's separate lobbying of EU envoys were both at an early stage -- a response to fears of a Chinese invasion which have grown as military tensions escalate in the Taiwan Strait.
[...]
Reuters was unable to learn details on what specific sanctions were under consideration, but some analysts suggested China's military could be the focus.

"Big picture, initial sanctions conversations will likely revolve around curtailing China's access to certain technologies required to sustain a military operation against Taiwan," said Craig Singleton at the Foundation for Defense of Democracies.
[...]
Taiwan had already broached sanctions with European officials after Russia's invasion of Ukraine, but China's recent military exercises have seen Taiwan's position harden, Six Sources® briefed on the Taiwan-Europe discussions told Reuters.

Top Taiwanese officials' calls for sanctions preparations have intensified in recent weeks. A recent Chinese white paper, which withdrew a promise not to send troops or administrators to Taiwan if Beijing takes control of the island, has prompted a redoubling of their efforts with Europe.

Taiwan has not asked for anything specific, only for Europe to plan what actions it may take if China attacked, one source briefed on discussions said, and has asked Europe to warn China privately that it would face Consequences™.