What are the general requirements and major impacts of the GDPR, and how does this law differ from data protection legislation in the United States?

The European Union’s General Data Protection Regulation (GDPR) has significantly influenced how companies handle consumer data worldwide. This legislation has sparked conversations about global data privacy standards and how laws should balance consumer rights, business interests, and national sovereignty.

In your initial post, respond to two of the prompts below, using specific examples to support your points.

What are the general requirements and major impacts of the GDPR, and how does this law differ from data protection legislation in the United States?
How do perspectives on the GDPR differ between consumers and businesses? Do views vary by industry, and if so, how?
Should there be a single global data privacy law? Why, or why not? Consider the balance between global business needs, cultural differences, and the sovereignty of individual nations.
In your responses to two or more of your peers, address the following prompts:

Do you agree or disagree with their stance on global data privacy laws? Why, or why not?
Ask a follow-up question or share a real-world example that challenges or supports their viewpoint.
Suggest additional factors they may not have considered, such as technological advancements, enforcement challenges, or evolving consumer expectations.