One Report of the news portal Politico According to the White House next week a Executive Order on transatlantic data transfers publish. The report is based on unofficial statements from the White House. This would be followed by a ratification process by the European Commission, which is expected to last until around March 2023.
The Executive Order is intended to Describe the subject of the monitoring activities in more detail. Also a independent court seems to be in the room.
Thus, the Executive Order addresses the two central allegations of the ECJ in Schrems II on. In this sense, the Executive Order would be a first step to address the concerns formulated by the ECJ. However, one may wonder whether an Executive Order can address the deficiencies in the statutory basis, especially since Executive Orders are subject to judicial review, i.e., they can be overturned by a court, and they can be withdrawn or modified by the or a President at any time. Moreover, it is apparently disputed whether an executive order can be issued against independent administrative units such as the CIA, but de facto also the NSA (which is legally part of the Department of Defense).
This does not necessarily rule out an appropriateness decision on the basis of an Executive Order, but it would be just as inconclusive as the Executive Order itself. For the time being, there is in any case no reason to forego the conclusion of the SCC or corresponding internal implementation measures.