Okay, let's say for a moment that you're right. That someone (we'll use Mrs Merkel as our example) has the osmium gonads required for such a move. Let's ask the tough questions.
If you're the Apple exec, do you cave? If you give that data to German authorities then you're in violation of US law. If you don't, you're in violation of German law.
From an economic standpoint: the US is the larger market. If you have to pull out of any market in order to protect you US revenue, then you do so. It sucks, but that's politics. You lobby, you whine, you carry on until you're allowed back in...but the US gravy train is the one you protect.
From a personal perspective: if you risk jail directly in either nation then the one you don't want to end up in is the US jail. More to the point, you have to look at "how long will you be in jail" and "how much of your wealth do you get to keep so that when you come out of jail you can Live Well." Also: how will your family be affected. Where does this piercing of the corporate veil start, where does it end?
"We'll levy fines against you" is a hell of a lot simpler maths than "we're going to enforce our viewpoints with guns." It sucks to no longer be able to do business in Germany, but it sucks a lot more if anyone is facing any jail time.
Now, would they? Where? In what nations is that true? Under what circumstances?
These are the issues that we, as a society, are having to hash out.
Powerful people say that copyright should be enforced at the barrel of a gun. And they get their wish. Why not surveillance? And why not privacy? This isn't just about money: these clashes are starting to get into fundamental philosophical differences between nations about the type of society that their people would like to see built. Those rarely end well, especially when the disputes are amongst allies.
I wouldn't want to be caught in the middle of it (I.E. being the above discussed Apple exec,) but I certainly don't think that any individual business interests are going to make a substantive difference to US policy in this matter. American Exceptionalism exists in many forms, not the least of which is this insular belief that "not America" cannot be considered in their law. (And frankly, many other nations are the same.)
To change that you need to start making fundamental changes to how the nation perceives itself, how the judiciary and government is organized, the role of the citizen and the role of a nation-state itself in today's more interconnected world. There's no reason whatsoever to believe that the US - or any other nation - will be "forced" to adapt. Nations have tried to take over the world for reasons more petty than resistance of social change...I do believe they'll fight and resist and struggle to the dying breath of last among them that believe in this vision of their nation.
Time is the only thing that will change that nation. Society evolves one funeral at a time...and we're decades away from being able to see any meaningful change towards openness, transparency or multilateral recognition of human rights...at least from the USA, and those nations most heavily influenced by her.