Comment by welterde

Are there any cases of the US nationalizing/seizing companies outside of sanction/war-related acts? Which would probably the only consequence the government can directly levy against the European company (the indirect ones they can also apply to pure European companies, so they don't really matter for this discussion).

But it really depends on how infectious just owning a company is, which I have no idea. But my gut-feeling is that it shouldn't be too infectious, since otherwise just buying a single share of a company operating in another country would put you into legal peril (who controls the subsidiary here is not really relevant, since the Cloud act wants to swim in the opposite direction in your scenario, therefore it shouldn't matter if it's 0.01% or 100%).