Let's grant all that: What leads you to the conclusion that this is overregulation on part of the EU, and not underregulation by the US? I can see no argument

Let's grant all that: What leads you to the conclusion that this is overregulation on part of the EU, and not underregulation by the US? I can see no argument being made for the former, other than "well, it's tough to compete with a country that does not regulate as much". Well yeah, certainly. But then that can of course be said about anything from environment laws to child labor.