You're implying the EU is this privacy guardian fighting these evil American tech companies. Except it was the EU who mandated data retention laws, the EU who banned prepaid cards over 150 euros, the EU who mandated countries release a public registry of who owns everything, and a substantial number of member states have mandatory key disclosure and SIM card registration laws. I don't really get the impression the EU cares about privacy all that much -- this ruling doesn't even ban targeted advertising, it just requires another popup that most of users will say yes to. To me this looks like a shakedown, especially when you consider that most of the tech regulations they pass have language that makes them almost exclusively apply to American companies (some only apply to companies with more than 50 million users etc).