Schrems II (and the Privacy Shield invalidation) has been in response to the aggressive data collection by the US government, and the extra-territorial nature of legislation used to achieve this. The US is able regain access to the EU market by repealing/changing CLOUD act and similar legislation, so I personally don't think this is (primarily) done to block US companies. However I am not the one implementing these rulings, so the best I can is speculate.
It seems pretty hard to think the US will drop the legislation every 3-letter-agency had wished for over the decades before it became law. The only thing I can imagine that actually gets the law changed is if the EU heavily invests in prosecuting these cases, to the point that tons of US companies worry they'll lose access to the EU market (with non-negligible fines to back up the law).
