A few months ago, the US government did a completely insane, and massively far reaching thing - it forced Microsoft to hand over e-mails and personal information of customers of US companies on a server that is in IRELAND.
It's essentially like telling the FBI that they have a right to barge into someone's house in Cork because some U.S. cousin might have sent them something illegal. As far as I know, that's not ok.
You can read more details here.
The horror is not really going to be felt by my non-U.S. friends - it is going to be felt by my U.S. customers. Who in their right mind is going to to put e-mails/data on a U.S. company cloud provider for overseas storage/safety KNOWING that at any time that data can be forced to be handed over to the US Government? Why would you use Google or Amazon or Microsoft or anyone else in the U.S. to store non U.S. stuff? You wouldn't. And it will hurt US companies - potentially very, very badly.
This is simply another case of the U.S. being woefully behind the times and still clinging to the belief that we can inflict our will as we see fit. Europe has dealt with this issue brilliantly and swiftly - years ago. Did we model our laws on theirs, since they clearly work? Of course not. We are bullies. And we are dumb sometimes. In an age of never-ending stupidity, this one takes the cake.