The EU governments gave thumbs up on the transfer of commercial data, an agreement that had initiated in February. The European Commission announced that the agreement will be activated next week.
A similar agreement called “Safe Harbour” had already been turned down by the EU's highest court, because of concerns regarding the invasive monitoring in the U.S. By applying the new agreement, the European Commission hopes to put an end to months of waiting for companies like Google, Facebook, and MasterCard.
Representatives of the EU state members voted in favor of the new EU-US Privacy Shield agreement, which supports transatlantic trade worth more than $ 250 billion in digital services, and enables data transfers, which are crucial for international business.