Europe’s already rocky trading relationship with the U.S. just got a whole lot worse. Thanks to one young man’s battle against one of the world’s biggest tech companies, data traffic underpinning the world’s largest trading relationship has been thrown into jeopardy.
As the Wall Street Journal warns, hanging in the balance could be billions of dollars of trade in the online advertising business, as well as more quotidian tasks such as storing human-resources documents about European colleagues.
When, in 2013, the Austrian law graduate Max Schrems filed a data-privacy-infringement lawsuit against Facebook after Edward Snowden had revealed the full extent of the company’s collusion with the NSA, little could he have imagined the impact he would end up having. Now, two years later, the European Court of Justice has ruled that the Safe Harbor Agreement that has governed EU data flows across the Atlantic for some 15 years is no longer valid.…
As WOLF STREET previously reported, TiSA appears to have three primary goals: 1) privatize all services; 2) rip up national and regional financial regulations and 3) spread the U.S. approach to data protection — i.e. no protection — around the world…
Battle brewing against US overreach.
Raging Bull-Shit
Did the European Court of Justice Just Torpedo the Mother of All US Trade Agreements?
Don Quijones
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