The EU is cooked unless they can figure out domestic industry. They currently have a US tech stack because they strangled Euro tech in the cradle, and now that things are rough with the US, they are looking to China to be their new, err, "trading partner". Anything other than realize they went way to far with "kill enterprise, embrace relaxation" mindset.
Trust beyond anything else, when money gets to be tight, and the lavish promised benefits of the state start to dry up, the member states will pull swords on each other faster than anyone else.
It is not so much that "things are bad with US". Issue is that US is being destroyed by tech and techs money. The rise of US tech companies is literally one of main contributors to its descend.
EU should have been more protective and aggressive against US companies. But, reproducing US economy choices would just make EU get loose democracy sooner.
You know what, there is something about China i see people are failing to realize, but china is creating dependcy more than competency, they first makes you me and everyone depend on them, then, they will start to make rules at a point where no one will be able to object