I don't see a conflict. European countries have had consumer protection laws that are different from those in the US and US companies have had to comply. This situation is no different.

The EU wants privacy & security guarantees that US companies can't deliver and special deals with the US government can't really fix that. But I'm sure US companies will adapt eventually.

And this goes in both directions of course. For example European banks have to be really careful in dealing with US citizens due to laws like FATCA.