> I don't agree that Europe can't change anything in that regard. Deeming US-based services illegal and banning US-based companies doing business in Europe because of the way EU-customer data is treated in the US would speed up better regulations in the US tremendously.

I think it would do way more damage on the EU side than anything. Imagine having to migrate applications overnight because hosting with AWS has been outlawed, even with all the protections in place (e.g. location in EU, encryption etc etc).