This is already happening. US multinationals will face a huge reduction in user base and revenue, or they will have to truly globalise and shift to neutral locations. Software companies are especially vulnerable.
Locations are not relevant, company structures are. As long as the datacenter/subsidiary/employee in Europe can be instructed/pressured/circumvented by the USian mother company to do things, the problem remains.
So globalisation is actually not the answer here, the opposite has to happen.
