That's not actually very common at all. Usually when laws like these go into effect, they apply to everything (and sucks to be you if you already were selling a product that doesn't adhere to them) or there is a cooldown period in which they can get rid of stock but no longer produce, but that also is limited to a deadline and not just "we already were producing this so it is fair game".
My dude, just because you are unaware of Europe's involvement in tech, doesn't mean that they don't have any. There is a plethora of technology that originated in the EU. Spotify for one of the larger brands in consumer services. I guess you prefer to ignore the vast majority of the automobile industry that is based on European technology? Did you know that the vast majority of acquisitions Apple does these days are all European companies?