@solidquid
The US are already effectively doing so in Ireland by demanding access to Microsoft servers stored there?
EU privacy rights don't stop existing - or at least shouldn't do so - simply because of the nationality of the company in question and if get ignored there then the same will happen here too.
EU employees would likely be able to refuse to provide the data with impunity
...whilst destroying any prospects the employees would have within the company. It might not get them sacked but it would destroy any future they would have otherwise have had.