Australia’s is the most balanced approach imo, it declined Beijing’s proposal to work together to counter U.S. tariffs, saying instead it would continue to diversify its trade and lower its reliance on China, its largest trading partner.

China is ensnaring Europe only for its own advantage, and this can be seen not only through Beijing’s support of Russia’s war:

China is wooing Europe with technology, investments - and a smile. But anyone who looks behind China’s rhetoric will recognize the conditions: no criticism, no questions, no objections […]

Human rights? Tibet? Xinjiang? Are elegantly omitted. Anyone who raises them is either a “gangster” financed by the USA or a naïve idealist. [Victor Gao, ex-interpreter to politician Deng Xiaoping and now Beijing’s mouthpiece that promotes China’s line in the West] prefers to sell the high-speed train network, the next 6G expansion and the bubbling growth figures. - Problems? “Of course there are,” he says - and immediately changes the subject.

Addition:

A Europe-China tariff axis would be a dead end

It’s difficult to overstate just what a watershed moment this was for Europe (and one that China, with its globalization happy talk, still seems not to have absorbed). Once the mask has slipped, the illusion can’t be seen again. The US may be acting in an unfriendly manner right now, but at least it doesn’t have a historical dedication to the subjugation of liberal democratic freedoms — and there is always the chance that it will return to its senses at some point. What such hopes can Europe have for Communist China?

Expediency dictates there will be some cooperation between Europe and China, but don’t mistake it for anything more profound or longer lasting. Some things are worth more than an extra battery plant or two.