President Joe Biden signed an executive order implementing a new data protection agreement between the US and Europe.. This agreement will serve as a framework agreement on how the data of US and European citizens managed by foreign companies will be managed.
The new agreement, known as the Privacy Shield, will provide a legal framework to protect against data streams from the millions of people who use services such as Facebook or Google.. This is also the third attempt at an agreement of this type, as the previous two were rejected by the courts of the European Union.
It is for this reason that the Privacy Shield incorporates many aspects of its predecessors and also eliminates some of the “legal loopholes” pointed out by the European authorities.
Part of the agreement’s importance is that it has an industry behind it that moves around $7.1 billion., which is a significant amount for both the United States and Europe. All of this is taking place in a context that includes some of the most important technology companies in the world, such as Google, Amazon and Meta, who could be affected by the new rules.
From Europe they know about the need for this type of agreement, because otherwise there is a risk that the services of some of these companies will not be able to continue to work in the EU. This has already happened in the case of Google, which was forced to withdraw tools such as Analytics from the French and Austrian markets, which were declared illegal because of the way they handled user data.
For its part, from The United States is also aware of the fears of the European authorities that the data of their citizens may become the object of illegal espionage. United States if this information is hosted on servers in the United States. With this in mind, the response of the Joe Biden administration was to include an independent mechanism in the agreement, allowing the EU countries to have the opportunity to demand consequences in the event of illegal collection of information by any US intelligence agency.
So that the agreement reached between the United States and the European Union can enter into force the approval of the European Commission is required, otherwise the agreement will have to be terminated.
Source: La Opinion
Ashley Fitzgerald is an accomplished journalist in the field of technology. She currently works as a writer at 24 news breaker. With a deep understanding of the latest technology developments, Ashley’s writing provides readers with insightful analysis and unique perspectives on the industry.