No. What the law says is that birthright citizenship does not apply to those *not* subject to US law. Foreign diplomats with diplomatic immunity. It's not the foreign power that matters, it's the lack of the US power.
> All persons born or naturalized in the United States, and subject to the jurisdiction thereof, are citizens of the United States and of the State wherein they reside.
All people in the US are subject to the jurisdiction of the US (other than some very unusual situation like diplomats and, in the past, some Native American tribes).
