Irrelevant claim. The US trade with Iraq after the invasion of Kuwait was very limited and did not include WMD materials. The stuff that the French and the Germans were selling is related to the production of WMDs, and it specifically violates UN Security Council resolutions that they voted for after the invasion of Kuwait, and that they have continued to support since then.
Prior to that, James Baker and Rummy had signed off on the Saddam regime.
Irrelevant.
They had no problem 'changing' sides, so I am not sure how powerful the argument is that leftwing French-German governments are protecting business interests.
They are. Since the deals involved proscribed technologies, it boils down to the French and the Germans hoping to avoid US trade sanctions--which would probably crater their economies once and for all. The only way to do that is to not get caught.