"Europe and U.S. Reach Landmark Data-Sharing Pact, But Face Legal Challenges"

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Source: CNBC
"Europe and U.S. Reach Landmark Data-Sharing Pact, But Face Legal Challenges"
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TL;DR Summary

The European Union and the United States have reached a new data-sharing agreement called the EU-U.S. Data Privacy Framework, replacing the invalidated Privacy Shield. The framework allows businesses to continue transferring data from the EU to the U.S. without additional data protection safeguards. However, privacy activists are already threatening legal challenges, arguing that the new rules do not provide sufficient protection for European citizens. The agreement is crucial for U.S. tech giants like Meta, Google, and Amazon, which rely on transferring massive amounts of user data. The success of the framework will depend on whether European courts deem U.S. privacy laws equivalent to EU protections.

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