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The new deal would “allow predictable and trustworthy data transfers between the EU and the US, respecting privacy and civil liberties,” according to European Commission President Ursula von der Leyen, who did not go into any detail about how it will function.

The European Union and the United States declared on Friday that they had reached a “in principle” agreement on a new framework for cross-border data transfers, bringing much-needed respite to internet behemoths like as Meta and Google.
For more than a year, authorities on both sides of the Atlantic have been negotiating a replacement for the so-called Privacy Shield, a pact that allows companies to exchange Europeans’ data with the US.
In July 2020, the Privacy Shield was declared invalid, dealing a blow to Facebook and other corporations that had relied on it for their EU-US data exchanges. The EU’s top court ruled with Max Schrems, an Austrian privacy activist who believed the present system did not safeguard Europeans against U.S. spying.