For clarity below, assume EU means any non-US country:
An EU company on EU soil would be protected by EU laws, and US Government requests would be subject to treaty obligations.
A US company on EU soil would still have to comply with, and be protected by, EU laws; any US Government requests would still be subject to treaty obligations.
In both those cases, if the company were served National Security Letters, they could defer to EU courts. Most importantly - US Agents would also not be able to unilaterally force access or compel silence/specific action on overseas soil. US Agents can do that to any facility and company in US soil - that is my primary concern.
I am not concerned with legitimate government requests and actions that play out through courts. I will note there was a (seemingly government backed) MITM attack that occurred on the Linode network with LetsEncrypt certs last year regarding jabber.ru
last year - though that likely did not include any performance by the CA.*
I am less concerned with CAs being compelled to issue false certs per se - though I do think it is practical for government agencies to simultaneously compel a CA and CT Logs. I think it's more likely they would compel access to copy the root keys and intermediates, and might later compel CT logs as needed.
High level officials in the US Defense Department and National Security Agency recently used the Signal app to discuss war plans, and inadvertently included a journalist. I think that's the exact kind of stupid that would attempt something like this; it is also coupled with the current culture in those agencies of unilateral executive theory.
Multiple friends and professional colleagues have been sued and harassed by current US officials over the past 9 years. Perhaps I have a tinfoil hat on, but technical avenues to exploit the current trust system exist, legal avenues to hide the exploits exist, and the current US government is neither focused on stability nor lawfulness.
* I am starting to think there might be a utility in monitoring SSL cert fingerprints from multiple vantage points to detect any changes, and possibly automatically publish them to DNS records as well as part of the deployment process. Are there any systems that monitor DANE records?