The Trump administration is not the first administration to propose this type of thing. Even assuming the United States government would never abuse this if it were to happen, if the US government can break the encryption, other governments and corporations and individuals can as well.
"Trump officials weigh encryption crackdown"
https://www.politico.com/story/2019/06/27/trump-officials-weigh-encryption-crackdown-1385306?cid=apn