The first steps are already underway, nevertheless the European Democracies should start a, new, NATO-like military Alliance on their own, but without Trump's America.
(and without the notorious US-made military equipment kill-switch ability - like with the F16s here)
And while we're at it, this time will be different: Instead of the membership criteria being anti-soviet communism, as in NATO, it should be effective Liberal Democracy - and - Freedom from Exceptionalist Exemptions, namely from the International Rule of Law. So, to be part,
1. Compulsory International Criminal Court membership and compliance - hence no exceptionalistic US, and no exceptionalistic Israel.
2. No "Illiberal Democracies": say, for example, composite of a minimum 0.67 score on the WJP Rule of Law Index and others: therefore no Orbanic Hungary, and no illiberal others like it. Poland, Slovakia, Italy: time to make some hard choices if you want in.
3. Democratic backsliding removes you rights in the Alliance, and, can proportionally lead to outright expulsion.
Not one more new military equipment purchase from the US, (and dispreference for other non-qualifying nations procurement). Member nations should use their - substantial - industrial capacity to equip themselves with indigenous military materiel.
Hey, it would be actually great for the economy!
Initially European scope, but bridges to a broader global scope (or even a secondary sister-Alliance) with open-ended partnerships with Canada, Australia, New Zeland, Japan, South Korea, and yes: Taiwan.
US and/or Israel want to join, if a more Democratic future selves? Simple: fully join the ICC, and meet the Alliance's full criteria as every other member.
Same applies for prospective new members.
Sweden shows how principled positions can be maintained while building serious defense capabilities. Now multiply that model by Europe's combined industrial and technological base.
We just need the political will to execute - instead of just rolling over and wagging our tail to bullies.