Looks like EU and USA agreed on an approach

It’s light on details though, I am not sure exactly how USA intelligence agencies are limited and monitored

How much less information about EU citizens will be scooped up by the USA in practice?

Google’s responses:

• https://blog.google/outreach-initiatives/public-policy/trans-atlantic-data-privacy-framework-building-long-term/
• https://cloud.google.com/blog/products/identity-security/how-google-cloud-helps-eu-companies-under-new-data-transfer-rules