2022 4 26 US Industry Letter on New Transatlantic Agreement
April 26, 2022
The U.S. Chamber co-led a multi-association letter signed by 24 associations to President Biden commending the United States and the European Commission on the recently announced Trans-Atlantic Data Privacy Framework. This framework will reestablish the Privacy Shield program as a critical mechanism for trusted US-EU data transfers while improving protections for individual privacy and civil liberties.
Companies of all sizes and across industries depend on international data flows to provide the goods and services that underpin the global economy. Transatlantic data flows account for over one-half of Europe’s data transfers and nearly half of US data transfers, and with transatlantic trade valued at more than $1 trillion, the economic implications are significant. There is a critical need for stable, reasonable, and trusted mechanisms that support responsible cross-border data flows across jurisdictions.
In the letter, the organizations emphasized that the Framework “can enable expanded transatlantic commerce, strengthen data protection, and provide a reliable legal framework for responsible transatlantic data transfers.”