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We (EU) can absolutely reestablish normal trade immediately with USA if USA wishes, it is 100% one-sidedly USA that want trade restrictions. EU even went so far as to NOT put tariffs on USA despite USA has put a 15% tariff on everything from EU!!!
But the election of Bush twice, who already had hostile rhetoric against allies, and started a war based on false intelligence. And then the election of Trump twice, even after it became well known he is a rapist and a con man and a fraudster and behaves like a Russian asset. Shows the American people and democracy itself is very unreliable. It's not just this administration, it's the entire system that is the problem.
Of course we will work sanely with a sane administration, but we simply can't reasonably rely on American sanity anymore, unless some sort of fundamental shift occur in American democracy.
American democracy was always dysfunctional, designed that way on purpose in the belief it makes for a more efficient government, effectively creating an undemocratic 2 party system.
There are many good Americans, but they are outnumbered and the undemocratic system has failed them. Americans need to fight for democracy if they want it. If they really value freedom and democracy as Americans have boasted about more than any other nation, they will fight. But my guess is that when push comes to shove, the majority doesn't give a shit. At least that's what decades of presidential elections clearly indicate.
The damage is done. There's no going back to previous status quo
I'm not quite sure what you mean, of course we can go back to normal trade. But there is no way Europe will go back to rely on American weapons like we used to, and we will also try to rid ourselves from reliance on American IT.
So I agree we will not go back entirely to what it used to be. The trust has been broken.