Electricity bureaucracy, whatever doesn't matter. Huge money is invested into making programmers obsolete and they are claiming that it already happens. If the tech is real, Europeans can just tell it to make them all these apps that American companies may choose to deprive EU to teach them a lesson.
If the AI tech is real then Europeans get their apps no need for American companies anymore. If the tech isn't real then the chat app makers(in Europe that's all Meta, WhatsApp + Messenger. Apple is a no go due to low market share) lose half of their revenue to teach Europeans a lesson. Europeans them switch to Signal, Telegram(Popular all over the place) or Viber(this one popular in Eastern Europe).
If they all decide to boycott, there you have opportunity to hit a 400M market. Let's say Europeans can make AAA games but can't code a chat app, give visa to US developers that were laid off for the last many years to come over. Maybe it's politically unpopular? Maybe they are not the best? That's fine, EU is an open market - anyone who is interested in making billions can just make a chat app and take over the EU market. Indians, Chinese, Turks, Africans, Americans that earn less than billions of dollars. It's a huge opportunity. Instantly.
Meta made $38.4 billion USD revenue in EU last year. It's very unlikely that no one will be interested in taking that. US companies aren't doing charity to EU, it's always their second largest revenue stream after USA.