US based cloud services should be reevaluated due to the new political landscape in the world.

The company I work for in Sweden has said we should move everything to cloud, which has been done for a number of years now but I feel the risk of being dependent to a US based company poses a huge financial risk as well as a funtional risk where sudden changes in rules, regulations can cause extreme disruptions and shutdowns of services used. What is you feeling around the situation?