Even if they sign an agreement, access to content of EU servers run by a company based in the EU will need a local warrant. The FBI won't get access without help of local law enforcement. And that can be hard even within the EU, as Spain just found out when they tried to arrest a politician.
I think many US citizens would be outraged if a Chinese court could issue warrants to access their data stored at any company. Not sure if EU citizens trust the US judicial system much more.
Thanks for the clarification. In this case I'm not sure how many agreements they'll actually sign? Safe harbour already wasn't very popular and public opinion in the EU has shifted a lot more towards privacy in recent months (from my subjective feeling).
I think many US citizens would be outraged if a Chinese court could issue warrants to access their data stored at any company. Not sure if EU citizens trust the US judicial system much more.