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Maybe we'll see a future of several global trade blocs with Cold War-like trade restrictions for dual-use goods between these blocs, accompanied by a tit-for-tat trade rather than deeper trade agreements?
Maybe the EU will have some free trade agreements (Canada, Australia, New Zealand, Japan, South Korean,and maybe some countries in Asia, Africa, and Latin America like the Mercosur members), and more tit-for-tat trade with all others?
Not necessarily 'de-coupling' but 'de-risking.' For Europe this would definitely mean EV, solar panels, cloud infrastructure, and other critical products will be made in Europe?
If this is the way, it will be not easy for Europe, but a disaster for China and the US in the long run as they rely heavily on Europe in their product trade and service industries, respectively.
Just my 2 cents.
Yes, a very probable scenario under these circumstances. And we should be happy that we ( in theory within time and lots of efforts) can reach a reasonable autonomy, while many other countries can't. Those who can't will therefore most likely fall under one or another block.
China will be fine. Like building their own mobile phone chips, and now GPU chips, they will replace all European technology. The other direction, there is no strategic need to sell to the EU.
The US sells overpriced gas to the EU and the EU promised investments to produce things locally in the US.
The disaster is waiting for the EU.