European and US negotiators are scrambling to meet today’s deadline to reach a new data-sharing agreement that could save business millions in extra fees for privacy protection.
The two sides have been working on the deal since last October, when the European Union’s top court struck down the 15-year-old “safe harbour” pact between the US and EU allowing American companies to import the personal data of Europeans. Businesses warn that a lack of a deal could stall vital data flows in everything from banking to e-commerce.
Original Source: The Independent
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