European officials on Tuesday gave the final stamp of approval to a long-awaited data transfer deal between the U.S. and the European Union, allowing the agreement to go into effect after more than eight months of negotiations.
The so-called Privacy Shield is intended to allow thousands of companies — from social media to hospitality — to continue freely transferring European citizens’ data across the Atlantic.
It replaces a widely used 2000 agreement that was struck down by the European high court over privacy concerns last fall.
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