TL;DR CNBC

Europe and the U.S. finally agree a landmark data-sharing pact — and it's already under threat

Publishing timestamp: 2023-07-12 05:53:17

Summary

The EU and U.S. have agreed on a new Data Privacy Framework that allows businesses to transfer data from the EU to the U.S. in a secure and compliant way. This agreement provides relief to U.S. tech giants, but it is already facing legal challenges from privacy activists who are unhappy with the level of protection offered to European citizens. The new framework replaces the previous agreement called Privacy Shield, which was invalidated in 2020. The agreement aims to ensure the safe flow of data between the EU and U.S. without additional data protection safeguards. However, privacy activists argue that U.S. privacy laws do not extend sufficient protections to non-U.S. citizens.

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Source: https://www.cnbc.com/2023/07/12/eu-and-us-agree-new-data-sharing-deal-what-is-it-and-why-it-matters.html