I see the last leg into europe cut off maybe, but not the rest of the countries along the way which happen to have large populations. And don't seem to care much.
Also Africa.
Furthermore...what should Europe, or any european country do? They voluntarily outsourced much of their production capacity into China. This is going on since decades. I've personally seen/experienced it. Do you think they are capable of resourcing it back in an instant? Could they, with all the environmental standards which are there now?
We live in interesting times!