That might be true technically, but there is a price to pay when governments insist on being able to pry into otherwise private data, and part of that price is that business entities operating within their jurisdiction may not be considered sufficiently trustworthy from a legal data protection point of view, particularly by business entities in other jurisdictions who have their own compliance obligations to worry about. This has been an issue for EU-US data sharing for years, it's a current issue for post-Brexit EU-UK relations, and if recent trends continue it may even become an issue for inter-state data transfer within the US. And those are all examples between relatively close allies with generally good diplomatic relations and comity.