If you read the history of arms control talks between the US and the USSR, the only reason they worked was because both parties could verify that the other was honoring the agreement. The Russians could physically look at satellite photos and verify the US actually removed some of its ICBMs and vice versa.
There is no way to verify a country is not spying on you. As such, no country, no matter their rhetoric, is going to actually give up that ability for the hope that others do so as well. It's a suckers bet.
The solution to privacy in the face of foreign dragnet surveillance is cryptography.