> rump has already said that he wouldn't tolerate regulation that affects American companies

This lays bare the stupidity of applying the pay-or-consent law to only Facebook and not everyone. Every important newspaper in Europe has pay-or-consent. It does not matter that each one individually is smaller, the effect is the same.

The law was carefully crafted to ensure European businesses (newspapers) are not "gatekeepers" while ensuring American businesses (social networks) are. That fact did not go unnoticed in the rest of the world.