Does the US have juristriction over the whole world?

[Florian Weimer]

* Mary Hawking:

> http://www.theregister.co.uk/2011/11/25/ms_threatens_au_gov_over_ehealth/ 
>
> Does anyone know about this - and whether it is true?
> Apparently it is Microsoft's view that requiring data to be held within a
> national boundary is a breach of WTO regulations - and, worryingly, that any
> data held by any organisation which trades with the US is subject to US law.
>
> "Any company with a presence in the United States of America (not just those
> with headquarters or subsidiaries in that country) may be legally required
> to respond to a valid demand from the United States Government for
> information the company retains custody over or controls, regardless of
> where the data is stored or the existence of any conflicting obligations
> under the laws of the country where the data is located," the submission
> states

Isn't this true for most countries, not just the U.S.?