It won’t.

It makes no attempt to outlaw encryption. We can still legally use PGP and completely avoid eavesdropping.

What it does mandate is that messaging providers who they will name (think WhatsApp, Signal), will be obliged to have people reviewing the content of all messages sent.

All but the stupidest of criminals will thus work around it, encrypting themselves over the top. While the average Joe gets all their messages read.