The counterpoint to that article is: US Big Tech could also abide to EU laws and avoid fines altogether.
The companies are not at fault here. The governments are at fault for dropping the ball on coming to an agreement. We’re on like the 5th round of this. Compliance is impossible.
Until the two governments fix this, US companies cannot operate in the EU without being at risk for pilfering from EU government.
And does US law really prevent them from handling EU customer data in a compliant way? Could you give a specific example?
https://en.wikipedia.org/wiki/CLOUD_Act
However, it does not prevent data at rest being stored in the EU. Only that if requested the american company has to exfiltrate it to the states.
https://www.edps.europa.eu/sites/default/files/publication/1...