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I agree, it's a game of minimizing the damage. But at some point, there may be a desire to teach Trump a lesson.
According to game theory, you definitely need to shut the bully down thoroughly at some point. We have not done that yet. Even if we are the weaker party, we need to do this:
https://phys.org/news/2023-06-game-theory-bullies.html
Losing patience IMO is the point where we take the lesson from game theory, and do something to retaliate that harm USA and Trump.
The problem with applying that part of game theory here is it makes several assumptions.
The biggest is that the bigger party are playing for maximisation, rather than just to "win". That is very much not the game with trump.
The second is the assumption that there is only 1 game in play at a time. America could cause devastating economic damage, if it went full tantrum. Europe has noticed how vulnerable they are to that sort of action. They need to patch the holes before playing hardball.
Under these assumptions, taking fairly meaningless hits to buy time makes sense. Pull the wolf's teeth, before challenging it to bite you.
No game theory account for such scenarios too. The ones not playing by the rules are normally psychopaths and the like, so game theory is about handling that type of scenario when the normal rules no longer apply. It's not just about simple greed, people brake the rules for various reasons. Psychopaths like Trump and the White House, simply feel more entitled, and they need to be shown very clearly that it will not be accepted.
We absolutely need to respond to Trump according to game theory, because you can't control him by throwing him a cookie from time to time, he will always come back for more until he is stopped. The exact same as with Putin, despite they are different psychologies.
Trump is a bully because he thinks he can get away with it. When he is shown he can't, he is most likely a coward if he think there are consequences. This is also how he gets the TACO nickname.
That also depends on Europe's leaders not being beholden to the same international oligarchs who pull Trump's strings.
This is the limiting factor. A non-trivial number of them are in cahoots. Not always and necessarily directly, but American capital has its tentacles stuck into many industries and financials structures through which to exert influence over industry and politics.
Seems like EU has no problem issuing fines to major American IT companies.