I think we (in the EU) will soon realise the bizarre consequences of these regulations. European startups will not be able to use standard SaaS or PaaS tools (like AWS, Azure, Mailchimp, PayPal etc) if they are based in the US (like most of them are). No cloud services, no Office 365 or Google Workspace. It will take forever to build up a similar ecosystem in Europe and I think most successful European entrepreneurs…
We're not fragmenting the internet by looking after our own interests. This wouldn't be an issue if Americans viewed rights (and in this case privacy rights) as belonging to human being as opposed to Americans citizens. The US's policy is what led to this:
> Agencies shall, to the extent consistent with applicable law, ensure that their privacy policies exclude persons who are not United States citizens or lawful permanent residents from the protections of the Privacy Act regarding personally identifiable information