European Commission, US strike deal on internet data sharing
The European Commission and the United States have sealed a deal on the ways of sharing data on the internet in an attempt to ease concerns over the security of the web activity.
Sources in Europe said Washington and the EU reached the agreement on Tuesday to revise some regulations governing the data-sharing on the internet.
“The European Commission and the United States have reached a political agreement on a renewed and safe framework for transatlantic data flows,” an anonymous source said.
The new pact will replace the so-called Safe Harbor, which was struck down by Europe’s top court in October 2015 due to concerns about the failure of the mechanism to protect internet users from US espionage.
The deal was the outcome of more than three months of intensive talks between officials from the two sides with billions of dollars of businesses, including those of Google, Amazon and thousands of others, being at stake.
Reports in the US media showed that European policy-makers had agreed to allow thousands of internet companies to continue moving people’s digital data, including a vast amount of posts in the social media and financial information, across the Atlantic.
Policy-makers in the EU were at odds over the level of privacy the individuals could expect when internet companies follow their activities on the web.
Members of the European Union should approve the deal before it goes into effect. National regulators in the 28-nation EU could still reject some terms of the new agreement. Sources said details of the new deal would be published later on Tuesday.
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