I haven't read the full text of the GDPR, but how exactly would the EU enforce fines like this against a company that ignores the GDPR but provides a virtual service within their border? E.g. a social media web service that has no physical assets in the EU. They could fine them all day long, but would have no power to enforce, right? Blocking IPs is a cat/mouse game.

I dont think this will be needed, other countries are preparing similar legislation, I remember Canada and Japan. The world is changing, there is no point in running away from GDPR it is just the first one. Rather adapt and profit later due to those that were running away.

From what I'm reading, Australia is gearing up for this too.

Don't underestimate the persistence of the US when it comes to ignoring international norms for 'freedom'. "Guns rights" comes to mind, among other things.

I’ve read that competent EU judgements can be enforced in the US through treaties and have full weight and sway as a US judgement, and vice verse, but I can’t find a source.

How does GDPR work for EU users using a vpn ? Looks like this entire GDPR business is bureaucratic mastbation.