First, I don't agree that US regulatory structure in general is "out of the 14th century." In many ways, particularly information gathering and transparency it is far ahead of Europe and everywhere else.  However, in the areas where it does need improvement -- particularly privacy concerns, food traceability, GMO regulation of grain traceability, and pesticide and agricultural chemical regulation , the US stands to gain a lot by adopting some of the European frameworks and forcing US industries to adapt to those. Europe stands to gain by opportunities to increase the democratization of regulatory information, while the US stands to gain by adopting some of Europe's more consumer-friendly protections.