Earlier quoted context omitted.
Not quite. The EU Data Protection Directive requires that personal data a company collects can not be moved somewhere where the consumer will have weaker protections than in the EU. This has required some workarounds, such as "safe harbour" provisions that US companies need to accept in order to receive personal data from EU companies that have collected them from users, which basically boils down to that the US comp…
But US companies are target to NSA survailence and data disclosure, so they can not comply with EU regulations by definition.
That said, one of the objections that caused the Data Retention Directive to fall in the EU courts was privacy considerations, so who knows. To find out we'll need a lawsuit.