Is European data safe in Trump's US?

The future is somewhat uncertain, not least when it comes to data storage.
Privacy Shield has been heavily criticised in the past, but now the issue is even hotter, and much depends on the EU's position on the recent executive order issued by President Donald Trump - and what impact it will have on Privacy Shield.
The lines of the order, which outrageously declare that US "agencies" should exclude non-US citizens from their privacy policies to the greatest extent possible, have sparked outrageous discussions among privacy experts.

Various articles and media have covered the subject this week, both European, American and, for example, Swedish ComputerSweden, but the European Commission claims that the order does not affect Privacy Shield or the so-called umbrella agreement on transatlantic data traffic. In any case, the new US President has shown that he is not afraid to stir the pot, and has demonstrated that he doesn't exactly handle relationships with kid gloves, so we will be watching with interest for further developments.