It shows that diversity is a good thing, you end up having to compromise no matter how rightful you feel.
The model in the US is nominally to have few regulations limited to things like enforcing contracts and antitrust laws and pricing major externalities, then leave the rest of it to free market competition. That isn't compatible with a model where regulators are trying to run the economy, because then the regulators get captured by industry and thwart rather than protect competition, and competition can't save you from needing complicated rules if it is not present. And those kinds of complex competition-destroying regulations are showing up everywhere, including in the US.
Conversely, the model in the EU is to not care a lot about small businesses and just regulate the large ones. But that model isn't really compatible with free trade. You can't impose expensive regulations on domestic companies and then put them into competition with countries that don't do that and expect them to succeed. But people want to have their cake and eat it too. They want the expensive regulations but not the correspondingly higher prices, and then the stuff they buy gets made in China where the rules don't exist (or exist on paper but the government waives them in order to capture the market). If you want to have the rules without destroying domestic industry then you have to impose them on the manufacturers of imported products too. Which would actually help the US increase competition, because the regulations would then shackle global megacorps that want to sell into the EU but not smaller domestic US companies that don't. But then foreign-produced stuff sold in the EU would cost as much as domestically-produced stuff -- a boon to local industry but higher prices on local consumers, and apparently they're not willing to suffer the latter.
Also, this (to me) is a strange use for the word diversity.
A similar issue comes up around education although things are a bit more even there with Texas and Florida also using the size of their markets to set their version of education standards.
According to ustr.gov, US imports from China in 2022 were worth $562.9 billion.
According to eurostat EU imports from China were 627.3€ billion, so a significant difference (note the currency).
As a rate of the total import/export they are actually quite comparable.
This also gets back to my point about the US increasingly failing at its ideal of not imposing high regulatory overhead.
I'm very cynical about this "diversity is our strength" stuff
In my opinion the problem is that society has been working hard to reduce "diversity" to mean different skin colors, genitals or sexual preferences, with a sprinkling of different cuisine. What most people refer to as diversity is very superficial
Diversity of ideas, diversity of politics, diversity of beliefs are still not very popular
The idea seems to be that the superficial diversity automatically produces the meaningful diversity, but I don't think that is true
You can edit your post if you do so soon after posting, and sometimes the meaning isn't lost (stale matches -> stalemates) but other times it (subjectively) is. For example I don't know what "rightful" should be here.
The thing is, if you say something stupid, people forget about it. If you write it down, it stays.
But often I write like I speak, not thinking about the consequences.