this kind of ruling encourages multinationals to never set up business in the USA.
I'm not sure it's quite that bad.
IANAL, but I can imagine a foreign corporation setting up a wholly-owned subsidiary in the USA.
Of course US operations would be subject to legal warrants and subpoenas, but all foreign operations should be outside the reach of US legal authority.
If a warrant is served for data from the foreign operations... sorry, the US subsidiary doesn't have access to it. It doesn't matter how many people they throw in jail for contempt.
But what do I know.