Cross-border data flows are essential to innovation, job creation, and economic growth in both Europe and the United States.
This week, the U.S. Chamber of Commerce, along with BUSINESSEUROPE, DIGITALEUROPE, and the Information Technology Industry Council issued a letter to President Obama, the Presidents of the European Commission and Council, and the heads of the 28 European Union member states underlining the need to urgently reach an agreement on a new Safe Harbor data transfer mechanism as well as create long term certainty for businesses of all sizes which depend on the seamless flow of data and information across the Atlantic.
As representatives of companies in a wide variety of sectors that do business in Europe, the United States, and around the world, our letter conveys the critical importance of U.S. and EU efforts to come to a comprehensive and sustainable transatlantic agreement concerning data transfers.
Given the two sides' self-imposed deadline of January 31 for a renewed agreement, we call on the leaders to immediately move ahead to ensure a durable legal framework for transatlantic data flows to avoid costly interruptions to economically vital exchanges across the Atlantic now and into the future.
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