Except the US doesn't really care about Europe that much. Having a government bureaucracy try to rebuild the entire US cloud software ecosystem because of one four year presidential term (which is already dramatically losing popularity in the US) sounds wildly silly to me.
Meanwhile turning away from the US means running into the arms of the Chinese for most things. And they are the much bigger threat to the EU economy given their superior manufacturing abilities -- which still today is the base of the EU's prosperity.
Once European industrial companies start losing to the Chinese, it's over for Europe's entire way of life and the social benefits systems all collapse. I'm sure they'll try USSR-style blanket protectionism before this happens, but will just lead to falling even further behind.
I don't suggest fully turning away from the US. I think a stance similar to Yugoslavia in the Cold War would be the way to go. Extract concessions from both blocks by threatening to tip the balance of power in favor of their adversary.
Meanwhile turning away from the US means running into the arms of the Chinese for most things. And they are the much bigger threat to the EU economy given their superior manufacturing abilities -- which still today is the base of the EU's prosperity.
Once European industrial companies start losing to the Chinese, it's over for Europe's entire way of life and the social benefits systems all collapse. I'm sure they'll try USSR-style blanket protectionism before this happens, but will just lead to falling even further behind.