I don't get it. It's US companies standing to loose their stronghold (near monopoly) on social, advertisement, and other forms of monetizing the web if the US creates a precedent for "national security" in this way, as in "we're welcoming social networks and free speech as long as it benefits the US and can be searched without warrant." Quite predictably, governments all over the world will be pressurized to question…
There are much more obvious national security threats, but this is kindergarten tit for tat politics for ratings. So don't expect any action on those.
Or any understanding of second order consequences for the US. Or a coherent national IT security strategy, which is what the US and EU really need.