America seeks to bring Taiwan into a direct confrontation with China in an attempt to weaken China and present it to the world as a fearsome monster. Contrary to the Ukrainian example, Taiwan will not be able to find the same support that Ukraine received, and even economic sanctions will be regressive to those who do them.
Europe is going through an economic and energy crisis. It will not be able to provide any kind of support to Taiwan, especially since China is able to completely crush it in a few days.
How so? If Taiwan is weakened, so is the U.S. It's against the U.S.'s interest for China and Taiwan to get into a conflict.
Say the Ukrainian war never happened and Europe didn't have an energy crisis, even then they wouldn't invest resources to defend Taiwan. They aren't the world's police, and I'm not even sure the U.S. would step in either.
Realistically, what could the U.S. do against an invasion? They won't be sending the fighter jets. They might send Nancy Pelosi

America will not get involved in a field war with big powers like China. All that America seeks is to create tension to isolate China, as it tried to do with Russia, but of course it failed.
With a new chaos, China will not be able to buy Russian oil, and therefore the sanctions imposed on Russia will achieve its goals, weakening it.
The Russian-Chinese connection is what binds the two conflict areas together. Especially since America is a major player in both wars.