The social stratification on the planet is already such that it is guaranteed to lead the world to a neo-feudal (essentially) system.
The same democracy presupposes the voting and power of competent citizens of approximately the same level of development. In reality, a shitocracy reigns almost everywhere on the planet with populists (corrupt officials/two-faced liars, and more often just façade clowns, behind whom are teams of proven criminals) elected by crowds of poorly educated sheep, and their poor education, lack of a broad outlook and critical thinking - again a product of such a looped system, in a spiral of degradation.
Therefore, such laws in such societies can change little in practice, because a stupid consumer sees (dreams) everything through the prism that retail prices will remain (as a percentage of their monthly net income) approximately the same as before, and they will receive only advantages. In reality, even if TNCs comply with such laws (and they have many clever ways to circumvent them in practice), they will simply raise the price in a concerted manner to take into account the new level of costs and the fall in the planned profits expected by the beneficiaries of the companies, taking into account the longer product renewal cycle in the hands of consumers. In addition, stagflation reigns on the planet - i.e. The real purchasing power of ordinary people in developed economies, on average, has been falling for decades. For example, in the US, since the early 1970s, when US citizens had a peak in terms of individual income in terms of purchasing power (especially in terms of purchasing a home). And it must be recalled that the population on the planet has more than doubled since then, which creates additional, increased pressure on the ecology of the planet and on the general atmosphere of aggression in societies, for a better place in life, with an increasing shortage of quality food and goods .
For this to work in practice, you need transparent pricing and a clear understanding of the real factory cost of any product, before speculative markups appear in the chains from manufacturer to retail, otherwise there are many ways to inflate prices at the level of both the manufacturer and intermediary chains. Or the most powerful competition in every market niche, which has not existed on the planet for a long time. And this automatically leads us to the exclusion of the capitalist system.
In the current state, such laws are clearly populist in essence. And none of the populist politicians is simply ready to change the system - if anyone tries, he will simply be physically eliminated by the real ruling power stratum. This stratum, a symbiosis of the bureaucratic system and the oligarchy, will not let go of power and money without a bloody battle against them.
This stratum has the same amount of money as the remaining 95%+ of the population and an extremely effective global organization and cooperation in matters of survival, unlike ordinary people. This has been proven firsthand over the past few years.
The ordinary population, on average, no longer has a chance to improve their lives in the current conditions without a radical reworking of the world order, which they, in principle, are not capable of, given the degradation of their education in relation to scientific and technical progress.