What does this has to do with the US? Germany has used anti-terrorism and hate speech laws to go after government critics especially around immigration policy, don't even let me get started on what is going on in places like Sweden.
Overall I really don't like where Germany is headed, I don't give 2 fucks about the immigration policy; but I don't like the fact that they've effectively legislated censorship on one hand by fining companies that would not take down posts which contain "illegal speech" (which under that legislation does not actually have to be under violation of current German law, it's enough for the likes of Google or Facebook not to comply to a request to get fined) and now they also seek to fine companies that post "fake".
Fake news aren't a problem, every news organization on all sides of the spectrum publishes 1000's of retractions and corrections on a monthly basis this is how news are written today when you have to battle for clicks.
The EU funds NGOs all over the world quite a few of them would fall under what you would call propaganda and information warfare, propaganda doesn't have to be a lie or fabricated in fact the most effective propaganda and the one most commonly used is not, it's just selective and tailored to fit a narrative, spreading believable lies is considerably harder than spreading convenient selective truths.
I don't see anyone going apeshit in the west about "lies" or well inaccuracies that appear on left wing media from Russian troop build ups that never happened to Israeli soldiers supposedly harvesting organs from Palestinians to near utter fabrications about things like the TTP before and even after most of the articles of the treaty were leaked to pseudo science about GMO's and tons of other garbage.
These things happen all the time on daily basis, this isn't something that for some reason plagues the right wing media in the US.
The problem is that today news is aggregated, much of the "fake" news we have today has always existed in effect it was and still tabloids and free dailies, it's the same inaccurate to utterly fabricated crap you would always get between the lochness monster and jesus appeared to me on a toast but now it's just on facebook and reddit.
This isn't a problem; narrative news isn't a problem what is a problem is echo chambers and pre-selected information; if you want to do something about this "fake news" problem don't go after the tabloids; and don't go after facebook for publishing them, make it so that you and everyone else gets exposed to all news sources rather than a feed of what you want to hear or read - that's our problem.
And what scares me the most is that some people are not scared and offended by the fact that their feed is in effect pre-selected based on what they want to consume; in fact they seem to applaud it they are offended when something passes through the filter and they get exposed to something that might not fit their self imposed worldview that gets narrower by the minute.
So yes if you get to a point where 100% of your Facebook feed looks like the cutting floor of the Aftonbladet and you get something that might have an opposing view I understand that I can be unsettling; but instead of crying about that I would rather we all shed a tear about the fact that too many people get their news from a personalized self curated and self censored ministry of truth.
The NSA isn't 1984; how people consume content on the internet today is, with a good dab of fahrenheit 451 in the mix, I hope we don't get to the part of burning books (again) or at this point what would that look like wiping hard drives or shadowbanning tweets?