The EU by design is not a single unit with governing power that would counteract the US or China. It’s not a federation but a union, each member has to manage their own international relations.
France for instance is about to take the same steps as UK, and get out of Huawei deals within the next years.
One of the main goals of the EU is to counteract the US and China. Individual member states no longer manage their own international relations when it comes to trade and try to find a common position on other issues.
The issue of a deeper integration is an old one and evolving, but the trend is more integration.
It is becoming more and more important for Europe to stand on its own two feet and be independent in all aspects.
There are benefits in having the other superpowers locked in conflict if you can stay out of it as much as possible and further your interests while they are distracted.
The UK, on the other hand, is in a very weak position. China will feel comfortable retaliating strongly, and the US will probably extract a sweet trade deal from them.
I think it needs to be a stronger political entity in its own right for that. EU foreign policy is hamstrung by very different foreign policy objectives of member states.
It’s like being caught in a fight between your drunk uncle and your berserk cousin.