The EU is on the forefront of biotech for example. The "Pfizer" vaccine and the mRNA tech that originated all Western vaccines were researched and made in the EU, in the case of Pfizer, only the manufacturing was outsourced to the US. We also have the most successful civilian aircraft manufacturer of the world in Airbus after Boeing jumped off a cliff. The MIC is also caching steam, world's biggest munitions factory and an 1500% stock valuation increase for Rheinmetall.
There is a ton of other stuff as well.
Don't believe either US, Russian or Chinese news on the EU as all of them are actively running propaganda campaigns against it.
Well, US-EU and US-Canada trade is not only replaced by EU-Canada trade, but by a number of other relationships as well. For exam
Trade in both the EU and Canada is up, despite trade with the US being down in each bloc.
Also, these things tend to snowball into bigger deals.