Unless the emissions from imports are counted, this is meaningless.
If you produce an dohicky in the EU and it casues 1000 tons of emissions, and by doing things like greening your grid, moving transport to electric, etc, you drop that to 450 tons, that's great.
If you produce an dohicky in the EU and it casues 1000 tons of emissions, and you instead stop producing it, but instead import it from China, where it was produced with 1500 tons of emissions and used another 500 tons to transport it, that's terrible.
If you produce an dohicky in the EU and it casues 1000 tons of emissions, and by doing things like greening your grid, moving transport to electric, etc, you drop that to 450 tons, that's great.
If you produce an dohicky in the EU and it casues 1000 tons of emissions, and you instead stop producing it, but instead import it from China, where it was produced with 1500 tons of emissions and used another 500 tons to transport it, that's terrible.