Trump seeks to "paralyze" the "Privacy and Civil Liberties Oversight Board" (PCLOB). A key element of the EU-US data transfer deal ("TADPF") that allows EU-US data flows.
Lose lose? The EU needs to finally move its critical systems from those being surveilled by the USA, China or any other country. Health, energy, traffic, governmental systems, all of them shouldn't be on systems owned (even in part) by foreign companies / nations. Trump forcing this to happen is an absolute win in the long term.
Get foreign companies out of our critical systems. They are a risk and the US is proving why - they can turn fascist at any point and our dependency on them is a liability.