I wonder how many billions in fines the EU can take out of US companies before they start to get political blowback.
If we put aside how we wish things were or how they should be, the point I was musing on is that large companies can influence politicians in the US. The EU depends on the US in many ways, with energy and physical security probably being top of that list right now. With those things being true, there must be a point where politicians in the US, seeing the damage being done to some of the biggest companies in their own economy by a group dependent on them, start to apply pressure to back them off. If these politicians wanted their companies regulated like this they would do it themselves presumably.