Sure... Until Trump says it is.
As the US becomes less ideologically predisposed to defend Europe, expect the US to take more advantage of the dependency, as the threat to walk away will become more real.
The nuclear deterrent is just as strong as it needs to be. If nuke strikes come, we're all dead regardless if we have 5 or 500 bombs to drop on Moscow.
And again, this is irrelevant to abusive authority on technology. If "Europe" wasn't "dependent on US defence" would they send a destroyer fleet to the US cost as a retaliation?
The US is using its tech companies to pressure foreign democratic allied countries over political issues. This is undermining the free trade that allowed these companies to exist in the fireplace.
Continued moves in this direction will just push nationalistic ideas in European nations to cut out US influence entirely.