I mean, it seems the US has completely abandoned their policy of breaking anti-competitive companies in favor of what essentially looks like surveillance mercantilism.
In that context, your question is ambiguous: are you, as often happens here, arguing that EU attempts at regulation entrench monopolies, or are you arguing that the EU should take significant actions to break US tech monopolies' presence in Europe?
In the first case, I believe there is ample evidence that anti competitive behaviour by tech companies is widespread enough that regulation doesn't significantly improve their position.
As for the second argument, the US government has always vigourously pushed back against any EU attempt at unfavourable regulation.