Re: EU - in relation to US defense, I was talking about industrial tooling. That is a classic and ordinary export market.

European defense industry, despite being blessed with more industrial capability, faces additional obstacles. 1. Can't borrow infinite money like the US can, because there is still a bias toward fiscal austerity. 2. Key technologies split between countries, which was an insurance policy in light of mistrust, but.... it creates added friction due to the same mistrust. 3. There's the dynamic of competing with the US defense firms, who can better game the political system (especially via NATO requirements), and sabotage their competition. Including notably the weapons transfers to Ukraine -- reduces the size of the "product ecosystem", makes it easier for Euro militaries to switch to US hardware in the future).