France has the expertise if Australia does go for a nuclear power program, question is how, politically, will a nuclear program fare in Australia (I don’t have a feel for Aussie politics or public sentiment on the nuclear issue).
Signs are the French will excuse the US actions as ‘disappointing but not a surprise’ and their ire will focus on Australia for dicking them over and not telling them what was going on behind the scenes. Again, though this will blow over in time with only the EU/AUS trade deal a possible casualty.
Two other thoughts. Tying yourselves to US foreign policy for the next few decades given the timeframe for actually getting the vessels is long, so what if US policy on China changes and the US pulls out of the deal. Where will that leave Australia with China? Conversely, and more likely, what if the US under a different admin becomes more hawkish and Australia is obliged by the pact to follow suit? A lot will depend on what the pact actually does, but irrespective of that, the long term nature of the deal does give the US leverage over Australia in its dealings with China.
Second is China applying to the CPTPP. How does this play out? China will apply and expect to join, because which members are going to veto the biggest regional economy from joining? Then, is being a member of a regional trade pact with China compatible with a US defence pact aimed at China? Does Australia want China to join?
Lots of scenarios to unpack here.