As someone from Europe, I certainly am at least equally uncomfortable with products from the US. Made in USA to me equals zero concept of privacy protection but plenty state surveillance (CLOUD Act, Cisco having hard coded back doors every two weeks etc.) and recently even lack of rule of law and even threats of annexation of European land and interference in domestic elections.
Sure, China will probably also spy and conduct industrial espionage, just as the US, but they appear to be a rational actor and have never threatened the sovereignty of European countries.
the US has a recent history of extra-terrestrial law enforcement, both in ally countries (kim dotcom, meng wanzhou), and non-ally countries (bin laden). that's the main fear. w.r.t. the US, everybody is at risk, all the time.
if you don't do anything wrong, you won't get into trouble, and out of 8 billion people in the world, only a handful of people get in trouble. the problem is, the definition of trouble can change.
Sure, China will probably also spy and conduct industrial espionage, just as the US, but they appear to be a rational actor and have never threatened the sovereignty of European countries.