Axios, July 16, 2020

By Ashley Gold

Europe's highest court blew up the agreement that allows most data transfers between the EU and the US Thursday, creating uncertainty for the tech firms that rely on the pact and likely sending officials scrambling to come up with a replacement, Axios' Ashley Gold reports.

This doesn't mean companies can’t ship data across the Atlantic ever again, but it will certainly be harder now. It signals diverging values around privacy between the US and the EU, which has been critical of the US over its surveillance practices and failure to pass a comprehensive data privacy law.

Trade group BSA said the decision "creates a challenge for more than 5,300" firms that relied on Privacy Shield, 70% of which, it said, are small and midsized businesses.

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