The updated Privacy Shield Framework is expected to bring back the transatlantic flow between the United States and the European Union.
Former vice president Joe Biden speaks to the Chicago Council on Global Affairs on November 1, 2017 in Chicago, Illinois. Biden addressed the consequences of U.S. disengagement from world leadership at the event.
The good thing about the U.S. and EU is the enhancement of the two regions' data flow. The so-called Privacy Shield was already proposed back in 2016.
However, the European Union's top court decided to reject it since officials previously believed that the data privacy agreement couldn't really protect the EU from the United States' mass surveillance.
Now, this scenario finally changes as U.S. President Joe Biden and European Commission President Ursula von der Leyen agreed to the new Privacy Shield Framework.
Updated Privacy Shield Framework
According to The Verge's latest report, the new Privacy Shield Framework will lead to trustworthy and predictable data flows between the United States and the European Union.
US President Joe Biden greets Ursula von der Leyen, President of the European Commission during the World Leaders' Summit "Accelerating Clean Technology Innovation and Deployment" session on day three of COP26 on November 02, 2021 in Glasgow, Scotland. It is the 26th "Conference of the Parties" and represents a gathering of all the countries signed on to the U.N. Framework Convention.
"Privacy and security are key elements of my digital agenda. And, today, we've agreed to unprecedented protections for data privacy and security for our citizens," said POTUS via The White House's official press release.
Thanks to the arrival of the Privacy Shield Framework's new version, the U.S. and EU can now expect relationship growth and innovation.
On the other hand, it will also benefit small and big companies competing in the digital economy between the two regions.
The new data flow privacy agreement represents the shared commitment of the United States and the European Commission and their efforts when it comes to data protection and the rule of law.
US To Help Europe Reduce Its Energy Dependence on Russia
Aside from enhancing the data flow, the United States will also help Europe reduce its energy dependency on Russia. One of the U.S. government's efforts is banning all imports of Russian energy.
This is important to prove that the nation is not a part of Russia's interests in the ongoing conflict between it and Ukraine.
On the other hand, the U.S. government will also assist Europe's demand for gas, especially since the fuel hike is now worsening in many parts of the globe.
Last week, the Ireland watchdog was sued for years because it failed to address complaints about the massive Google data breach.
On Mar. 4, Italy's watchdog ordered the Clearview AI company to delete consumer data.
For more news updates about the new Privacy Shield Framework and other related cybersecurity topics, always keep your tabs open here at TechTimes.
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Written by: Griffin Davis
