There is a difference between sharing information (where you control what is shared) and letting the other party have all the information and look at it by their own. The fact that EU shares intelligence with US is less of a problem as long as EU citizens have a somewhat confidence in their government and security services. It is a big difference from letting US process all private information about the EU citizens and by that enable US to rummage around as they wish without having to obey laws or regulations in EU.