Counter point: the majority of the EU's defence material comes from abroad. EU pension funds where/are banned from investing in defence. The defence industry is tiny in the EU compared to the rest of the world.
And as a result, EU defense officials watch the US elections with dread, as they would be utterly helpless against a Russian incursion. Unfortunately, the time of the peace dividend we enjoyed is over, at least as long as authoritarian EU neighbours like Russia heavily invest in their military on a war footing