Not sure why the French are complaining, haven't they been noticed that their Foreign policy over China is diametrically opposed to that of the USA and Australia?
The USA, especially, Biden, has been urging the EU to get tough on China for several years but getting nowhere. On the contrary German and France has been urging the EU to see itself as a "third power bloc" between the USA and China with an especial emphasis on expanding trade relations.
The question for not only the USA but especially Australia therefore is how would France react to pressure from China over crises in the pacific and Asian regions - could they depend on French standing with them or not? That would be especially critical concerning nuclear submarines with reactors needing regular refuelling in France and using French weapons.
The French talk about trust - the fact is that, based on history and their proclaimed policy on China - they aren't seen as being trustworthy enough.