Sure. And a large part of the point of global governance (whether EU, UN, ICC in Hague, etc) are to try and solve the collective action problem of morality, labour standards, environmental standards etc by collective agreement and collective punishment for breaking agreements.
Arguing against this using "sovereignty" and other criticisms of international governance are arguments in favour of amoral and beggar thy neighbour policies. The right argument, IMO is to try and stay within such organizations and fix them from the inside.
I believe that the EU is fueling those tendencies. I'm referring to financial policies primarily and immigration crisis response secondarily actively pushing Europe towards extremism.
Extreme right wing (mostly) and left wing political forces are setting the agenda of every member's election of the last 4 years.
Many countries do similar things. Ireland with tech giants, Cyprus, Switzerland and Luxembourg with personal bank accounts, Greece a nearly no tax policy for shipping magnets, etc. just different business models, you trade one thing for another.
Again, nothing special about a country trying to gain a competitive advantage in one sector or another
