While the CLOUD Act exists, and in general while the US refuses to recognize privacy rights of foreigners and grant them sane due-process protections, it seems logically impossible to comply with US and EU legislation at the same time (the European Commission’s repeated but non-binding pronouncements to the contrary notwithstanding). That US companies aren’t exactly in a hurry to try looks to mostly be a distraction.
US companies literally cannot abide by EU laws, because they are subject to US laws, which conflict with EU laws. This is what all these European judgements are disagreeing with.
The companies are not at fault here. The governments are at fault for dropping the ball on coming to an agreement. We’re on like the 5th round of this. Compliance is impossible.
Until the two governments fix this, US companies cannot operate in the EU without being at risk for pilfering from EU government.
Thanks, it seems like indeed the US government could request that an EU subsidiary of a US entity provide data on an EU subject. This request could be lawful under US law but not EU and hence you'd have a conflict.