This is close, but not exact. Aus and kommt are two different verbs. Aus and von are a pair and mean "from" and kommt is by itself, "to come." "Die Jacke ist aus Europa" means "The jacket is from Europe," while "Die Jacke kommt aus Europa" means "the jacket comes from Europe." I don't see how this makes any sense, so I would say that "kommen" should be used in the past tense here, so the preterite should be "Die Jacke kam aus Europa." And the present perfect is "Die Jacke ist gekommen aus Europa." Just a difference between "to come" and "to come from."
I think you might be thinking of dies, which can mean this if it doesn't come before a noun, as in "Dies ist eine gute Jacke" "this is a good jacket" though I Germans believe would most likely say "Das ist eine gute Jacke"
Take a look at the first answer here, lots of good info