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Actually we do, when Trump last time threatened EU, EU suspended the ratification process of the trade deal, and Trump IMMEDIATELY pulled back.
EU has lots of options to retaliate against USA, for instance tax on American IT services is a very high ranking one.
Just Denmark alone supply 70% of insulin to USA. And handles 30% of container cargo to USA. This was revealed recently because of Trump threats against Greenland, which is part of the Kingdom of Denmark.
USA is far from as independent as they like to pretend, they have dependencies even on a tiny country like Denmark of only 6 million citizens.
EU has given many admissions to USA under Trump, but patience is running out.
I like the option of not acknowledging US copyrights, patents, or trademarks for a minimum of one year
Let's see how quickly the oligarchs attack Trump
They do indeed. Aren't they like the third largest economic market in the world? They can make it really sting if they're motivated.
I think patience has already run out. It is rather a calculated approach of identifying what does and what doesn't depend on the USA, and setting up alternatives for those things that do depend on the USA for example through trade deals (Mercosur, India) and investing in independent tech (funding open source projects, governments moving to native tech alternatives).
In the past year the EU has found out that it depends scarily much on the USA, but also that it can be more independent than expected while also having serious economic leverage.
I agree, it's a game of minimizing the damage. But at some point, there may be a desire to teach Trump a lesson.
According to game theory, you definitely need to shut the bully down thoroughly at some point. We have not done that yet. Even if we are the weaker party, we need to do this:
https://phys.org/news/2023-06-game-theory-bullies.html
Losing patience IMO is the point where we take the lesson from game theory, and do something to retaliate that harm USA and Trump.
In this case, what game theory dictates is also occurring as a natural human trait. But it takes courage.
That also depends on Europe's leaders not being beholden to the same international oligarchs who pull Trump's strings.