I was reading about this yesterday and the challenges for the EU of which there were a couple (will try and find the link if I remember where it was published). The EU had no idea this was being discussed along with France, so they’re a bit embarrassed about it all.
The English speaking countries are arming up to the Chinese, which leaves the EU countries in a difficult place. There are very different priorities and thoughts across the European capitals, as the EU isn’t a recognised defence force and some countries would rather investment in different places than sort out geopolitical issues (understandable). The article mentioned an “EU defence” system being talked about again.
Secondly, the EU are trying to build closer economic ties with the Chinese. With Britain and the US stabbing one of the biggest EU military powers in the back, it could become a difficult choice if it comes to China versus the US (though they’d obviously back the US).
The EU can’t even deal with Russia with any force or backbone, so they’re pretty powerless at present when it comes to the issue of China.