Of course, the genie can be put back in the bottle -- locked down devices can prevent code that hasn't been vetted to run, and on desktops, mandatory DRM stacks would ensure the laws are enforced regardless of borders.
No, sorry, it can't. There's currently enough technological excellence in other parts of the world that they can design and build unlocked general purpose computers for fairly cheap without U.S. involvement.
The only reason why people pay attention to U.S. laws is because of the strength of U.S. consumers. The U.S. spends and spends. It's a special market unto itself because of how much spending people do, and as a consequence, how competitive the landscape is for those consumer dollars. The money doesn't come from nowhere though. The U.S. has enormous amounts of natural resources to exploit, including a very low overall population density, a habitable climate, and a stable society seen practically nowhere else.
If it becomes more profitable to entirely ignore the U.S. market though, people will stop catering to the U.S. laws and regulations. This can be brought about in a multitude of ways, but one way that's already in progress is the loss of the middle class and thus the loss of total consumer spending power.
That'll be the only way things can return to sanity here; after economic intimidation from other countries.